SE Asian billet import prices continue to saw a rise for this week as well. The import offers have seen hovering between $540-560/t CFR SE Asia levels, up by $20-30/t against last week. However, no firm trades in Indonesia and Thailand were reported so far at increased offers.
The tight scrap availability, leading to soaring global scrap prices, is intensely pulling the global billet prices. SteelMint’s assessment for USA origin HMS 1&2 (80:20) stands at $395-400/t CFR Turkey, up by $40/t on a weekly basis.
Current offers-
Iran- Iranian billet export offers registered a steep rise this week on rising global scrap prices. In conversation with a few of the leading Iranian mills, we learned that export tenders are likely to be floated shortly with few bigger mills targeting $480-485/t FoB levels. SteelMint assessed the Iranian billet export price assessment to be at $475-480/t, FoB up by $10-15 against last week.
Vietnam- The BF billet export offers from the country are seen at $530/t, FoB Vietnam levels, up by $20/t against last week.
Thailand- Billet import offers in the country seen hovering at $540/t, CFR, up by $30/t w-o-w. The billet imports in Thailand, during Oct ’20, recorded at 0.27 mn t, up by 27% m-o-m. Oman, Russia, India, Japan, and Iran stood as the prominent exporters.
This week, SteelMint assessment for billet import in SE Asia is at $540-550/t CFR, up by $30-40 against last week.
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