This week, the SE Asia billet import market witnessed limited trades, with a marginal rise in the import offers. India and Iran were noted to be the prominent billet suppliers for the week.
The billet demand in the SE Asian region has started getting to normal, as most of the countries have gradually started lifting the lockdowns. The sources mentioned to SteelMint, that some buyers from the region are even ready to pay above USD 395/MT, CFR levels in the current situation.
SteelMint assessment for billet import offers in SE Asia is at USD 385-395/MT, CFR levels, up USD 5 against last week.
CIS billet export offers drops marginally- The billet export offers from the region were noted to witness marginal drop USD 5/MT, to reach USD 350-355/MT, FoB Black Sea. This week, numerous bookings to China were noted from the region.
The futures in China were noted to witness a reasonable drop. This has created an enormous disparity in the bids and offers. Looking at the situation, the CIS nations have marginally pull down their billet export offers for China and are currently at USD 385/MT, CFR. However, even then, the Chinese buyers are resisting to the CIS current offer levels and are bidding at USD 380-382/MT, CFR.
Vietnam– The billet export offers from the country were noted at USD 400/MT, FoB Vietnam. While domestic offers were reported at USD 395/MT, CIF.
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