The SE Asian billet import market reported having booked sizeable billet volumes from Russia and India this week. The price range of these deals is heard at $445-455/t, CFR. The bookings are prominently for the Philippines. On the other hand, the other billet importing ASEAN nations (Thailand, Indonesia, Malaysia) remained silent on falling Chinese rebar futures, which led to an increase in the bid-offer spread in the region.
Also, the domestic prices of some countries have reached on par with the import offers. For instance, the domestic billet prices in Indonesia are at IDR 6683/kg ($450/t), excluding 12% VAT, while import offers in the country heard in the range of $440-450/t, CFR.
Deals & offers-
- CIS- The offers from the region for a SE Asian destination were at $450-455/t, CFR, unchanged against last week. Around 50,000 t billet cargoes booked for the Philippines from Russia at $445-455/t, CFR, this week.
- India- According to the SteelMint sources report, the country has booked around 40,000 t billets for the Philippines at $450/t, CFR. However, we could confirm the deal until the publishing time of this report. SteelMint assessment for billet export offers from the country were at $430/t, FoB India. However, during a conversation with SteelMint, a trade source mentioned- ” A European trader is offering me Indian billets at $440/t, CFR Indonesia.”
- Iran- The offers from the country noted at $415/t, on FoB Iran basis, stable against last week. However, the mills are looking to conclude the new deals at $420/t, FoB Iran.
- Vietnam- This week, the billet offerings from the country remained unchanged against last week and are standing at $450/t, FoB.
- Thailand- Billet import offers in the region noted to be at $440/t, CFR. However, a few sellers have seen offering at $450/t, CFR, a trade source said to SteelMint
This week, SteelMint assessment for billet import offers in SE Asia is at $445-455/t, CFR, unchanged against last week.
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