Billet import prices have moved up by USD 5-10/MT in Bangladesh over the past week amid higher global offers and tight supply in seaborne market.
SteelMint assessed that billet import prices in Bangladesh have reached at USD 345-350/MT, CFR Chittagong this week, up from last offers of USD 335-340/MT in the previous week.
High offers and limited supply from China considered as the prime reasons for rising billet prices. Last trade was heard to conclude at around USD 340-345/MT, CFR Chittagong from India for over 150 mm sized billet.
Chinese offers continue to remain at USD 350/MT, FoB China main port. Whereas, CIS offers are assessed at around USD 320-325/MT, FoB Black Sea and Indian offers at USD 330-335/MT, FoB India main port.
Bangladesh imports around 1.5-2 MnT billet annually. However, with increasing steel melting capacities in the country, the government had imposed a regulatory duty of 20% on imports (all origin).
Global Billet Prices during Week 37
| Particular | Delivery | Grade (mm) | Currency | Price | W-o-W | M-o-M | Remarks |
| China Export | FOB China | 150*150 | USD | 350-355 | 0 | +30 | Chinese billet export prices increase due to rise in seaborne coking coal and iron ore prices |
| India Export | FOB Vizag | 150*150 | USD | 330-335 | +7.5 | +20 | Last trade from India heard at US$ 330/t FOB. Vizag steel may soon come up with an export tender |
| CIS Export | FOB Black Sea | 125*125 | USD | 320-325 | 0 | +5 | Prices stable on limited Chinese supplies in the market |
| South East Asia Import | CFR SE Asia | 150*150 | USD | 355-360 | – | – | Higher Chinese offers force buyers to buy from India and other origin |
| Bangladesh Import | CFR Chittagong | 150*150 | USD | 340-345 | +10 | +15 | Some deals were heard settled at USD 345/MT CFR Chittagong |
| Middle East Import | CFR Dubai | 150*150 | USD | 344-355 | +5 | +25 | Prices increase on limited supply from China. However buyers are reluctant to pay high prices for imported billet. |
| Turkey Import | CFR Turkey | 125*125 | USD | 340-345 | +5 | +10 | Rising billet offers from CIS and China is forcing Turkish steel mills to go for scrap imports |
| India Domestic | Ex-Mumbai | 100*100 | INR | 22,000 | -600 | -1,000 | Subdued demand amid ongoing festive mood led to price correction. |
| China Domestic | Ex-Tanshang | 150*150 | RMB | 2,240 | -20 | +20 | Prices rise on rising coking coal prices |
Prices in Currency/MT
Source: SteelMint Research
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