This week, moderately good volumes reported having booked at the increased prices in the Philippines from CIS. The active Chinese buying interest has softened the SE Asian buyers to raise the bids. Consequently, increasing the imported billet offers in the region.
However, the offers witnessed had a wide range from $590-630/t, CFR, subjected to source and destination. For instance, billets from Vietnam for the Philippines have heard offered at $630/t, CFR levels. While Iranian billets offered were at $595-600/t, CFR Thailand.
Although the buying interest noted was at $580-595/t, CFR, SteelMint learned during conversations with market participants.
Deals and offers-
CIS: This week, billet export offers from the region remained broadly stable at $580/t, FoB.
India: Indian billet export prices rose in a recent tender hosted by a state-owned mill. It was floated for 60,000 t billets. According to SteelMint’s sources, the company managed to achieve a price level of around $540/t, FoB India.
SteelMint’s bi-weekly assessment for Indian billets (150*150mm, BF route, FoB east coast) is $540-545/t, up by $5-10, w-o-w.
Iran: It was the third consecutive week when billet export prices surged. In recent export deals concluded early this week, Iran’s leading steel exporters reported having fetched a price level of $550-560/t, FoB. With these deals, Iranian billet export prices registered a rise of $10-15. SteelMint’s bi-weekly assessment for Iranian billets is currently at $550-560/t, FoB.
Vietnam- The billet export offers from Vietnam rose by $10 this week. Currently, the BF route billets are offered at $600/t, FoB, while the IF route offers are $590/t, on FoB Vietnam basis
Thailand: This week, the imported billet offers in the country saw a rise of $15-20 and are currently seen at $585-590/t, CFR.
This week, SteelMint assessment for billet imports in SE Asia is $590-600/t CFR, up by $15-20 w-o-w.
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