This week, SE Asia’s billet import market was reported trade functional for the successive week. The region is reported to book around 30,000 MT billets from an Indian private mill. According to SteelMint sources, the shipment is booked to Indonesia and the deal value is reported to be around USD 405/MT, FoB. With this deal, the billet import offers in region have marginally gone up, supported by Turkey’s scrap import prices.
Turkey’s imported scrap prices have slightly inched up in recent deep-sea cargo bookings concluded in last few days. The prices stood stable for last couple of weeks over slow buying activities; however, the upcoming winter holidays in Europe and North America are expected to drive restocking at higher price in coming weeks for January shipments.
SteelMint assessment for billet import offers in SE Asia is at USD 420-425/MT, CFR, up USD 5/MT against last week.
Billet export offers from CIS were reported stable – This week, billet export offers from CIS nations were reported stable and are standing at USD 385-390/MT, FoB Black Sea, identical as last week.
Vietnam domestic billet offers remain stable- This week, the country has resumed its billet export offerings. The billet export offers from the country are at USD 425/MT, FoB, Vietnam.
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