This week, global billet market was reported mix sentiments. Indian billet export prices to SE Asia fell in recent trade deals. Rest all prime markets remained silent and sentiments were reported with dull sentiments amid limited trades.
Billet export offers from CIS reported stable- This week billet export assessment from CIS nations stands at USD 405-410/MT, FoB Black Sea, identical as last week. The market sentiments were reported moderate in the region.
SE Asia billet market: The region’s import market is reported to explicit some trades this week. If sources to be believed; an Indian BF grade billet of quantity 20,000 MT, size; 150*150 mm were booked to SE Asia. The deal value was reported to be USD 430-435/MT CFR SE Asia.
Amid high steel inventories and dull domestic demand, Indian mills have turned active for exports. Domestic billet prices for 100*100 mm in India are currently hovering at INR 27,700/MT (USD 386/MT) (GST extra) ex-Mumbai.
Iran billet export offers soften amid no trades- This was the consecutive week of the month in which the country witnessed no trades. The billet export offers from the country also got soften to USD 380-385/MT, FoB, down USD 5/MT against last week. The prime reason for the trade silence in the country is dipping raw material prices.
Vietnam billet offers – This week Vietnam’s domestic billet offers are at USD 450-455/MT, amid lower prices in exports, mills were heard preferring billets in domestic market.
China domestic billet prices fall by RMB 60/MT- This week Chinese domestic billet prices in Tangshan settled at RMB 3,410/MT, down RMB 60 against last week. This week, billet trade sentiments in China were reported weak.
Also, the prolonging silence by Turkish steelmakers in buying imported scrap has put pressure on global imported scrap prices further, pulling SteelMint’s US-origin HMS 1&2 (80:20) scrap assessment down to USD 278-280/MT, CFR Turkey against the last week report of USD 282-283/MT, CFR.
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