Billet prices in seaborne market moved up by USD 5/MT W-o-W. One of the factors driving global billet prices this week is rising coking coal prices in seaborne market.
It is worth noting that coking coal prices have increased by USD 16-17/MT M-o-M, which is due to heavy rainfall in China, which has impacted the supply in domestic market.
Rising billet prices in Chinese market has prompted buyers to look for alternative supplies. In the situation, export offers from India and CIS increased.
However, market participants believe that Chinese prices may not sustain for long and prices will fall once raw material supplies stabilizes.
Global billet prices during week 35
| Particular | Delivery | Grade | Currency | Price | W-o-W | M-o-M | Remarks |
| China Export | FOB China | 150*150 | USD | 350-355 | +5 | +47.5 | Chinese billet export prices increased due to rise in seaborne coking coal and iron ore prices |
| India Export | FOB Vizag | 150*150 | USD | 322-325 | 0 | +18 | Recent tender by Vizag Steel concluded at USD 323-324/MT, FoB Vizag. Prices rise on higher Chinese offers. |
| CIS Export | FOB Black Sea | 125*125 | USD | 325-330 | +5 | +15 | Prices up on limited Chinese supplies in the market. |
| South East Asia Import | CFR SE Asia | 150*150 | USD | 345-350 | – | – | Indian billet was sold to Thailand at around USD 345-350/MT, CFR |
| Bangladesh Import | CFR Chittagong | 150*150 | USD | 330-335 | 0 | +12.5 | Bangladesh based millers unwilling to pay over USD 330-335/MT, CFR due to higher import duty on billet. |
| Middle East Import | CFR Dubai | 150*150 | USD | 340-345 | -5 | +22.5 | Prices increased on limited supply from China. |
| Turkey Import | CFR Turkey | 125*125 | USD | 335-340 | 0 | +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 | 21,600 | -100 | +400 | – |
| China Domestic | Ex-Tanshang | 150*150 | RMB | 2,390 | +100 | +300 | Prices rise on rising coking coal prices. |
Prices in Currency/MT
Source: SteelMint Research
Leave a Reply