South East Asia’s imported billet prices remained supported this week. However, not many deals were recorded. Offers for blast furnace (BF) route billets were heard at around $680-685/tonne (t), CFR Manila, a trader informed.
SteelMint’s bi-weekly assessments of imported billet offers into SE Asia are currently at $678/t, CFR Manila, up by $5/t against last week.
Deals and offers:
- India: Mills continued to remain active in exports given the subdued domestic demand. State-owned steelmaker, Vizag Steel, floated four export tenders amounting to a total of 90,000 t of billets and blooms for end-Aug’21 shipments. SAIL also floated a tender for 18,900 t of billets for end-Aug shipments.
Indian mills are expecting price levels of $605-610/t FoB, market sources informed. However, higher freight rates continued to impact FoB prices for Indian mills. Freights for SE Asian markets are learned to be at around $70-80/t.
- Vietnam: BF-route billet offers from the country inched down by $5/t, on a w-o-w basis, amidst the volatile rebar futures market. According to SteelMint sources, BF-route offers are at $645/t FoB.
- Thailand: Indicative imported billet offers into the country are hovering in the range of $665-680/t CFR from various origins.
According to data maintained with SteelMint, the Shanghai Futures Exhange (SHFE) rebar futures Oct’21 contracts today, 02 Jul, settled with a d-o-d drop of RMB 22/t ($3/t) to RMB 5,124/t.
Domestic billet prices in China stood at RMB 4,910/t ($756/t) in Tangshan, including 13% VAT. On the other hand, price indications for imported billets into China are heard at around $660-665/t, CFR.
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