SE Asia: Billet import offers reported stable

This week, SE Asian billet import market saw volumes from Russia. The price range of the deals is heard at $445/t, CFR. The bookings are prominently for the Philippines and Thailand. On the other hand, due to the Chinese Golden Week holidays, a high bid-offer spread witnessed, leading to limited trades.

Deals & offers- 

• CIS-The offers from the region for a SE Asian destination noted at $440-445/t, CFR, down by $ 5 against last week. Approximately 50,000 t billet cargoes booked for the Philippines and Thailand from Russia at $445/t, CFR, this week.
• India-This week, few traders have seen offering Indian billets for Indonesia in the range of $425-428/t, CFR. However, no fresh offers from Indian private primary mills were heard. On the other hand, an Indian state-owned mill has floated a 30,000 t (150*150mm, 3SP/4SP grade) bloom export tender for spot sale, against 100% advance payment terms. Amid high bid-offer disparity, the company canceled 60,000 t bloom export tender, the bid expiry date for the same was 7 Oct’20.
• Iran-The offers from the country noted at $405/t, on FoB Iran basis, unchanged against last week. However, the mills have seen extending negotiations and hosting of their tenders. We believe Iranian mills have put on a wait and watch mode until the Chinese holidays considering that the market is likely to pose strong sentiments post-holidays. Few mills have softened their offers, but the leading mills are still offering in the range of $410-415/t, FoB Iran.
• Vietnam- This week, the country’s export offerings stood at $435/t, FoB Vietnam
• Thailand- Billet import offers in the region noted to be at $440-445/t, CFR.

This week, SteelMint assessment for billet import offers in SE Asia is at $440-445/t, CFR, unchanged against last week.

Billet imports in Indonesia rise by 55% m-o-m in Aug’20: During Aug’20, the billet imports in Indonesia have reached 247,939 t from 159,562 t in Jul’20, registering an m-o-m growth of 55%. Ukraine, India, Oman, Russia, and Vietnam stood as the major exporters during the period under consideration. Indian and Russian imports in the country have fallen sharply as the country’s buying had shifted towards Ukraine.