This week, SE Asia’s billet import market was reported trade functional for the second successive week. The region is reported to book around 100,000 MT billets from CIS. According to SteelMint sources, the shipment is booked to Philippines and the deal value is reported to be around USD 435-440/MT, CFR. With this deal, the billet import offers in region have registered a sharp move. An increase in global scrap prices has supported the price hike.
SteelMint assessment for billet import offers in SE Asia is at USD 435-440/MT, CFR, up USD 15-20/MT against last week.
Billet export offers from CIS rise in a recent deal to Philippines – This week, billet export offers from CIS nations gone up in a recent deal to Philippines, and are standing at USD 395-400/MT, FoB Black Sea, up USD 10-15/MT, against last week.
Imported scrap prices to Turkey surged up sharply by USD 10/MT, with the recent deep-sea cargo booking concluded yesterday from Baltic origin. It is expected that offers may increase further in the coming days on supply tightness from yards amid winters.
SteelMint learnt from market sources.SteelMint’s assessment for US origin HMS (80:20) has climbed to USD 282/MT, CFR Turkey, up by USD 10/MT against the closing of last week, while the assessment from Europe currently stands at USD 277/MT CFR.
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