Billet prices in the seaborne market remained range-bound due to limited Chinese offers amid ongoing national holiday week (1-7 Oct) in China. Buyers prefer to wait till China returns to the market.
Billet export offers from CIS region have noticed some softness due to falling scrap prices. Current offers for rectangle billet are assessed at USD 315-320/MT, FoB Black Sea.
No active tender or offers from Indian manufacturers as domestic prices have increased sharply. Last bloom (150*150 mm) tender by Vizag Steel (RINL) was settled at USD 335/MT and billet (90*90 mm) at around USD 333/MT, FoB Indian East Coast.
Global Billet Offers in Week 40
| Particular | Delivery | Grade (mm) | Currency | Price | W-o-W | M-o-M | Remarks |
| China Export | FOB China | 150*150 | USD | 325-330 | 325-330 | 355 | No firm offers from China due to ongoing holidays. |
| India Export | FOB Vizag | 150*150 | USD | 330-335 | 330-335 | 330 | Last tender by Vizag Steel was settled at USD 333-335/MT, FoB. |
| CIS Export | FOB Black Sea | 125*125 | USD | 315-320 | 320-325 | 325 | Prices fall on weak buying from Turkey. |
| South East Asia Import | CFR SE Asia | 150*150 | USD | 335-340 | 335-340 | – | Limited buying interest from South East Asian buyers. People wait for Chinese offers. |
| Bangladesh Import | CFR Chittagong | 150*150 | USD | 340-345 | 340-345 | 340 | Prices remain range-bound in the range of USD 340-345/MT, CFR Chittagong. No firm buying noticed. |
| Middle East Import | CFR Dubai | 150*150 | USD | 340-350 | 340-350 | 350 | Prices stable on low trade activities. |
| Turkey Import | CFR Turkey | 125*125 | USD | 330-335 | 330-335 | 340 | Turkish steel mills prefer scrap over billet. |
| India Domestic | Ex-Mumbai | 100*100 | INR | 23,500 | 24,100 | 22,000 | Prices increase as big steel mills increased steel prices due to rising cost of production. |
| China Domestic | Ex-Tanshang | 150*150 | RMB | 2,140 | 2,140 | 2,310 | China closed till 7 Oct’16 |
Prices in Currency/MT
Source: SteelMint Research
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