CIS: Billet imports from the CIS countries to the Gulf region have slowed down on account of low profit margins as demand in the local market is poor.
Billet offers from the CIS have fallen by $5/MT to $525/MT FOB Black Sea. Prices might drop further as no deals have been finalized yet.
Iran: Imports of Billet have dropped by 35% y-o-y and imported a total of 2.78 million tons (mt) of semi finished steel products from January to October 2012.
UAE: Billet is being quoted in the range of $565-575/MT CFR. December and January rolled.
SE Asia: Billet importers in the South East Asia have raised import prices to lessen the widening gap between the cost of production and sales.
China: Producers of Billet in China are quoting the material at $583/MT CFR Jebel Ali to consumers in Dubai but have not found any interested buyers due to offers being made for small quantities.
Turkey: Suppliers of Billet in Turkey have corrected prices for exports purposes by $15/MT on weak demand of finished long products and no clarity in scrap price trend in the coming days.
Billet imports from Turkey reduce to the Gulf region due to low quoted prices and as buying volumes in domestic market has lessened.
Leave a Reply