According to market sources report to SteelMint, Indonesian importers have resumed billet imports.
Recently an Indonesian importer has purchased around 20,000 MT billet (wire rod grade) via tender at around USD 515/MT, CFR Indonesia.
However buying interest for commercial grade billets was heard around USD 505-510/MT, CFR.
Few trade sources also shared that in last deal heard a trader has concluded deal for around 10-15,000 MT commercial grade billets (125*125mm; 3SP/5SP) at around USD 504/MT, CFR.
Billet export prices in overseas market have moved up amid hike in global scrap prices. Imported scrap prices in Turkey have increased by USD 20/MT W-o-W amid tight supply in winters and active restocking from steel mills ahead winters.
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