This week, SE Asia billet market remained silent. However, billet import offers in the region remained stable even after the Turkish imported scrap prices have inched up marginally. After observing a sharp rebound in prices during the first 3 weeks of October’19 amid numerous bookings witnessed, the prices have mostly remained stable in the last week.
SteelMint assessment for billet import offers in SE Asia is at USD 400-405/MT, CFR Thailand, identical as last week.
Meanwhile, buyers are no in haste to make purchase on increased offers amid slow finished steel demand.
Billet export offers from CIS rise marginally – This week billet export offers from CIS nations stands at USD 365-370/MT, FoB Black Sea, up USD 5/MT against last week. However, no deals were reported at increased offers.
Vietnam- No offers were reported from the country Limited offers for domestic billet were heard around USD 400/Mt ex-works.
As per SteelMint’s methodology, assessment of US-origin HMS 1&2 (80:20) scrap has now escalated to USD 254/MT, CFR Turkey, inching up by USD 1/MT, as against USD 253/MT at the closing of last week. The assessment of European origin HMS 1&2 (80:20) stands at around USD 248/MT, CFR Turkey.
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