Imported billet prices in South East Asia witnessed a downward trend this week. Falling global scrap prices and market participants adopting a wait-and-watch approach owing to weak finished steel sentiments kept trade activities limited.
“Heard some Chinese traders have started offering 3SP billets at $510/t CFR to Manila and $505/t CFR for Taiwan-for ASEAN BOF origin billet”, said a source to SteelMint.
SteelMint’s bi-weekly assessment for billet (150x150mm, 3SP) imported by the Philippines currently stands at $505/tonne (t) CFR Manila, down by $10/t, w-o-w.
Market highlights-
- Thailand’s imported billet prices edge up: Thailand’s billet market witnessed low buying this week. Imported billets offers stood at around $505/t CFR, up by $5/t w-o-w, as per sources.
- Iranian billet export prices stable w-o-w: Iran’s billet export market remained silent this week with prices remaining stable w-o-w. No deals for exports were recorded by SteelMint so far. Falling global scrap prices, weak demand and the bid-offer disparities weighed on the billet export marke. Meanwhile, Khouzestan Steel Company (KSC) has floated a 40,000 t of steel billets export tender. The result of the tender is due next week. SteelMint’s latest assessment of Iran’s billet (3SP) export prices stood at $458/t FOB on 25 November, stable, w-o-w.
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