Trades in SE Asian imported billet market remained active for the second consecutive week. Chinese rebar futures consequently increased the bids which resulted in attracting sizeable imports into the region. The bookings broadly were for the Philippines with Russia and Ukraine being the predominant suppliers for the week.
Deals and Offers:
CIS: The CIS-based mills reported sales of over 100,000 t billets in the Philippines at price levels of $650/t, CFR. Black Sea offers remained broadly stable at $590/t, FoB levels. However, during conversations with a trader, SteelMint learned that “the prices are rising now. Dormant markets like Tunisia are giving higher bids. Turkish buyers started bidding over $ 600/t, CFR. It looks like the market is bouncing back.”
In addition to it, imported scrap prices to Turkey have rebounded in recent bookings concluded for deep-sea bulk cargoes for May shipments. SteelMint’s assessment for US-origin HMS 1&2 (80:20) stands at $425/t CFR Turkey, up by $5/t w-o-w. This in turn has supported a hike in billet prices.
Vietnam billet export offers up by $20: The BF route billet export offers from the country were reported at $640/t, FoB.
Thailand: Imported billet prices in Thailand remained unchanged at $650/t, CFR.
SteelMint’s assessment for billet imports in SE Asia is $645-650/t CFR, up by $5-10/t w-o-w.
SE Asia billet deals:
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