Global billet offers rise in-line with rising billet offers from Chinese exporters, which have increased by almost USD 65/MT in last one month. Current offers for Q235 (150*150 mm) prices are hovering at around USD 365-370/MT, FoB China main port. Chinese export offers are rising on account of seasonal demand and low inventories at mills.
Billet prices across the world have increased, following hike in Chinese market. CIS offers were assessed at around USD 375-385/MT, FoB Black Sea.
Indian bloom tender may conclude today
Vizag Steel, which had floated a tender of 30,000 MT bloom and 20,000 MT billet, is likely to settle bloom tender at around USD 360/MT, FoB Indian East Coast. Cargo will be shipped to Bangladesh. Last tender of 80,000 MT bloom was settled at USD 262/MT, FoB India in the month of Dec’15.
Current domestic and global billet offers
| Particular | Delivery | Grade (mm) | Currency | Price | W-o-W | M-o-M | Remarks |
| China Export | FoB China | 150*150 | USD | 365-370 | +40 | +65 | Export offers rise in-line with rising domestic billet prices. |
| India Export | FoB Vizag | 150*150 | USD | 355-360 | +23 | +35 | Vizag Steel tender likely to be concluded at around USD 360/MT FoB Vizag port (Indian East Coast). |
| CIS Export | FoB Black Sea | 125*125 | USD | 375-380 | +29 | +52 | Offers continue to move up on rising scrap offers in global market. |
| South East Asia Import | CFR SE Asia | 150*150 | USD | 375-380 | +30 | – | Offers rise in-line with Chinese prices. |
| Bangladesh Import | CFR Chittagong | 150*150 | USD | 375-380 | +38 | +45 | Buyers wait for Vizag Steel’s tender, which will set direction for the market. |
| Middle East Import | CFR Dubai | 150*150 | USD | 375-385 | +37 | +45 | Offers moved up, buying remained weak. |
| Turkey Import | CFR Turkey | 125*125 | USD | 385-390 | +27 | +52 | Prices up on rising imported scrap offers, which touched USD 280/MT, CFR Turkey. |
| India Domestic | Ex-Mumbai | 100*100 | INR | 24,600 | +400 | +900 | – |
| China Domestic | Ex-Tanshang | 150*150 | RMB | 2,360 | +190 | +450 | Prices moved up on low inventories. |
Offers in Currency/MT
Source: SteelMint Research
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