Billet offers in seaborne market continue to increase over the past week on improved market sentiment and rising coking coal and iron ore prices.
Increase in global billet offers are supported by expensive raw material and improved buying interest. Chinese billet (150*150, Q235) export offers are assessed at USD 350-355/MT FOB China, which was at USD 345-350/MT FOB last week.
Similarly, Russian and Ukrainian exporters have raised their offers to USD 345-350/MT FOB Black sea this week, which was at USD 335-340/MT FOB Black sea last week.
India: Last tender of 20,000 MT (150*150 mm) by Vizag steel was concluded at USD 335/MT FOB India east coast. Company is expected to float fresh tender by second week of November.
| Particular | Delivery | Grade | Currency | Price | W-o-W | Remarks |
| China Export | FOB China | 150*150mm | USD | 350-355 | 345-350 | Chinese billet export prices increase due to rise in seaborne coking coal. |
| India Export | FOB Vizag | 150*150mm | USD | 330-335 | 330-335 | Last tender was concluded at USD 335/MT FOB |
| CIS Export | FOB Black Sea | 125*125mm | USD | 345-350 | 335-340 | Prices increase on increasing Chinese billet offers and global scrap prices |
| South East Asia Import | CFR SE Asia | 150*150mm | USD | 355-365 | 345-350 | Prices rise owing to rising Chinese offers |
| Bangladesh Import | CFR Chittagong | 150*150mm | USD | 365-370 | 355-360 | Local demand remains subdued. Buyers prefer scrap over billet |
| Middle East Import | CFR Dubai | 150*150mm | USD | 365-370 | 355-360 | Prices increase on high offers from China and Iran |
| Turkey Import | CFR Turkey | 125*125mm | USD | 360-365 | 350-355 | Rising billet offers from CIS and China is forcing Turkish steel mills to go for scrap imports |
Source: SteelMint Research, Prices in USD/MT
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