This week, sizeable billet volumes have been booked by SE Asian nations from Russia, Iran, and India. The bookings are broadly for the Philippines. According to the data maintained with SteelMint, it was the first active trade week of Apr ’21 witnessed in the Philippines, as the lockdown is likely to be lifted today. However, the country had booked sizeable cargoes before imposing the lockdown.
The bid-offer disparity was also witnessed in the region post these deals. Offers touched $650-660/t, CFR levels, while bids stayed at $635-640/t, CFR.
Deals and offers:
CIS: Russia sold 20,000-30,000 t billets to the Philippines at $650/t, CFR levels. The shipment is likely to be scheduled by Jun ’21 from Vanino port (the Far Eastern part of Russia). However, the Black Sea offers remained broadly stable at $570-580/t, FoB.
India: Indian billet export prices remained stable in a recent deal for the second consecutive week, despite volatile dynamics. An Indian state-owned mill sold 30,000 t billets at $594/t, FoB, through an export tender issued for spot sale against 100% advance payment terms. The shipment is likely to be scheduled for China by end-May ’21. The mill is hosting another spot sale tender, for which the base price heard is $610/t, FoB.
On the other hand, a secondary Central India-based mill is reported having booked 10,000 t (130*130mm) billets for the Philippines at $635/t, CFR for May ’21 shipments.
SteelMint’s bi-weekly assessment for India billets (150*150mm, BF route, FoB East coast) is $600-605/t, up by $10 against last week.
Iran: Iranian billet export prices surged further in recent deals concluded for China and SE Asia. Two leading steel exporters of Iran reported having sold 50,000 t billets through a tender at $579-580/t, FoB. With these deals, Iranian billet export prices rose by $10, w-o-w to reach new highs. SteelMint’s bi-weekly assessment for Iranian billets is currently at $580-585/t, FoB, up by $10-12 w-o-w.
Vietnam: The billet export offers to the Philippines are heard at $650-655/t, CFR (BF route), and $635-640/t, CFR (IF route).
Thailand: Imported billet prices in Thailand are in the range of $640-650/t, CFR, up by $5 w-o-w.
SteelMint’s assessment for billet imports in SE Asia is $635-640/t CFR, unchanged against last week.
SE Asia billet trade snapshot:
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