This week, SE Asian billet import market broadly remained silent on the continuously soaring global billet prices amid flying global scrap prices. Most southeast Asian mills are not keen to book billet at high prices for now, as they have the appetite to wait till Mid-Jan ’21, SteelMint learned from credible sources. And hence, we witnessed a wide bid-offer spread. The offers have crossed $580/t, CFR levels, while the bids hovering were at $560/t, CFR.
However, in the meanwhile, the Philippines reported having booked a sizeable billet volume from Japan at $575-580/t CFR recently. However, we could not confirm the quantity until the publishing time of this report.
Deals & offers-
CIS- The billet export offers from the region have climbed to $575-580/t, FoB Black Sea levels, up by $5-10, against last week.
India- Indian mills continue enjoying better price realizations in the domestic market and continue posing limited interest for exports. We noted a rise in export offers. However, the offerings were indicative, and no trades were witnessed at the increased price levels. SteelMint’s bi-weekly assessment for Indian billets (150*150mm, BF route, FoB east coast) is $550-560/t, up by $10-15, against last week.
Iran- The Iranian billet export offers surged for the third consecutive week in a recent deal. According to our sources, one of Iran’s leading steel exporters booked 30,000 t billets at $527/t, FoB for end-Jan ’21/early Feb ’21. SteelMint’s assessment for billet export offers from Iran has moved up by $25-30 w-o-w and is $520-525/t, FoB.
Vietnam- The BF billet export offers from the country reported having increased by $10/t, w-o-w, and are currently at $570/t, FoB Vietnam levels.
Thailand- Billet import offers are hovering at $550-560/t, CFR, up by $10 against last week. However, buyers have seen bidding at $540-545/t, CFR.
This week, SteelMint assessment for billet import in SE Asia is $570/t CFR, up by $10 against last week.
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