For the consecutive week, the SE Asian billet import market reported silent. The continuous declining imported Turkey scrap prices have managed to keep the region’s billet import market depressed. The event is being strongly supported by corona virus outbreak which has negatively encouraged the global billet market sentiments especially in Far East and SE Asia region.
Meanwhile, SteelMint assessment for SE Asia billet import offers has dropped marginally and is at USD 410-420/MT, CFR, down USD 5/MT against last week.
However, few nations like Indonesia are in routine steel trades. Although, country has limited it’s buying from China. The domestic Indonesia billet is being offered at IDR 7500/MT, CIF, including taxes.
Vietnam billet export offers- The billet export offers from the county for 5 SP grade are heard to have at USD 420-425/MT FoB.
Billet export offers from CIS witness further drop– CIS billet export offers drops marginally by USD 5-10/MT amid fallen Turkey’s imported scrap prices. This week, billet export assessment from CIS nations are at USD 375-380/MT, FoB Black Sea.
Turkish imported scrap offers further plunged on recent fresh deals concluded amid buyers are continue bidding at low-level prices.
SteelMint’s assessment for HMS 1&2 (80:20) from USA origin stands at USD 255/MT CFR Turkey, down by over USD 12-14/MT against last week.
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