A series of billet bookings from India’s West & South Regions has taken place for Southeast Asian Countries at the price range of USD 400-415/MT FOB India. Indonesia, Thailand, Sudan, Jakarta and the Philippines are the major markets for Indian billet manufacturers.
A standalone billet plant’s owner in Gujarat, stated “By mid Feb’17, around 20,000 MT billet has been sold out at the price of USD 409-410/MT FOB Mundra Port for Sudan. However, now the buying interest coming at USD 400-405/MT.”
He further said that, in the starting of Feb’17, 30,000 MT billet sold out for exports whose dispatches got completed and the deal was at USD 415-420/MT FOB.
Similarly, in the last week, Southern India based trade participants reported – exports for billet around 15,000-20,000 MT at the price of USD 410-415/MT FOB.
Large billet producers also became active to export market: JSW Steel’s Dolvi, Maharashtra based plant also booked approximately 35,000 MT billets at the price range of USD 400-410/MT FOB West coast, whose shipments is lined for Thailand.
Similarly, Vizag Steel (RINL) also concluded 20,000 MT billet export tender at USD 390/MT FOB India. The cargo is likely to be shipped to South East Asian countries.
Factors behind rise in Indian billets exports:
1. Rising scrap prices in global market.
2. Absence of Chinese billets from the market, which has led to more steel-melting.
3. Russian and Ukrainian suppliers are booked for March loading.
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