Indian billet export prices have gone up by USD $5 over the past week as new deals were heard concluded.
Indian export price assessment for 150*150mm billet have increased this week by USD 5/MT. Current assessment stands at USD 335-340/MT FOB India for September end/ October shipment, which was at USD 330-335/MT FOB India, last week.
JSW steel heard to have sold about 10,000-15,000 MT billets (165mm) from its Vijaynagar plant at around USD 334-335/MT FOB India.
Vizag steel has floated an export tender of 20,000 MT billet (150*150mm) and 10,000 MT billet of size 90*90mm for October shipment. Due date for tender is 19th September 2016.
Falling Chinese Billet Export Prices a Concern
Falling Chinese billet prices may put stall to any further price hike for Indian billet. Chinese billet offers have dropped by USD 5-10/MT in last couple of weeks owing to sluggish demand and falling steel futures.
Current offers being heard at USD 345-350/MT FOB China, which was at USD 350-355/MT FOB China last week.
|
Particular |
Delivery |
Grade |
Currency |
Price |
W-o-W |
|
Remarks |
|
China Export |
FOB China |
150*150mm |
USD |
345-350 |
350-355 |
Chinese billet export prices fall due to falling steel futures |
|
|
India Export |
FOB Vizag |
150*150mm |
USD |
335-340 |
330-335 |
Last trade from India was heard at US$ 335/t FOB. Vizag steel has floated an export tender of 30,000 MT |
|
|
CIS Export |
FOB Black Sea |
125*125mm |
USD |
320-325 |
320-325 |
Prices stable on limited Chinese supplies in the market |
|
|
South East Asia Import |
CFR SE Asia |
150*150mm |
USD |
350-355 |
355-360 |
Buyers resist on falling Chinese prices |
|
|
Bangladesh Import |
CFR Chittagong |
150*150mm |
USD |
340-350 |
340-345 |
Low buying interest due to Eid festival. Offers should not be less than 345-350/t CFR Chittagong |
|
|
Middle East Import |
CFR Dubai |
150*150mm |
USD |
340-350 |
344-355 |
Prices firm on sufficient local supplies |
|
|
Turkey Import |
CFR Turkey |
125*125mm |
USD |
335-340 |
340-345 |
Turkish steel mills prefer scrap over billet |
|
|
India Domestic |
Ex-Mumbai |
100*100mm |
INR |
23,200 |
22,200 |
Prices increase on improved demand and rising sponge and pig iron prices |
|
|
China Domestic |
Ex-Tanshang |
150*150mm |
RMB |
2140 |
2230 |
Prices fall on weak steel futures |
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