This week, SE Asia billet market was reported dim with little soften offers. The billet import offers in the region are USD 400-405/MT, CFR. However, the buying interest is at USD 390-395/MT, CFR. The falling Turkey’s import scrap prices is the prime reason for the disparity in the offers and buying interest. Turkish imported scrap prices have fallen again after a couple of fresh deep-sea cargo bookings were signed at prices lower by a further USD 5-6/MT, SteelMint learned from market participants.
Billet export offers from CIS reported stable- This week billet export assessment from CIS nations stands at USD 355-360/MT, FoB Black Sea, identical as last week. The market sentiments were reported weak in the region.
As per SteelMint’s methodology, an assessment of US-origin HMS 1&2 (80:20) scrap has now dropped to USD 228/MT, CFR Turkey, down USD 6/MT against last report earlier this week. While assessment of European origin HMS 1&2 (80:20) also stands stable at around USD 222-223/MT, CFR Turkey.
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