SE Asia: Billet import trades pick up at increased prices

This week, sizeable quantities of billets were traded in the SE Asian imported market with increased prices due to an increase in freight rates. The bookings broadly were made by the Philippines mills from Russia of around 50,000 t billets.

Despite sluggish sentiments, amid rising COVID cases, the Philippines mills managed to bag bookings at reasonable price levels, considering the continuously climbing freights.

On the other hand, other ASEAN markets like Indonesia remained silent in terms of billet imports, SteelMint learned from Indonesian traders. However, a leading Indonesian mill was heard offering billets at $605-610/t, CFR China.

Deals and offers

• CIS mills conclude export deals to the Philippines: A couple of leading Russian mills reported having booked around 50,000 t billets at $600-605/t, CFR Philippines from Vanino port – the North-Eastern part of Russia. However, the Black Sea offers are $550-555/t, FoB, down by $15-20 w-o-w.
• Indian mill concludes export deal for SE Asia: Indian billet export prices continue rising. In recently hosted export tenders floated for billets (16,200 t, 125*125mm) and blooms (16,200 t, 200*280mm), a state-owned mill of India managed to achieve a price level of $555/t, FoB. According to SteelMint’s sources, the bloom cargo is likely to be shipped to a SE Asian destination.
  SteelMint’s bi-weekly assessment for Indian billets (150*150mm, BF route, FoB East coast) is $540-550/t, FoB.
• Iranian mills await the outcome of fresh billet export tenders: Iranian billet export market remained silent and broadly stable amid the Persian New Year holidays (Nowruz). However, Iran’s leading steel exporter, Khouzestan Steel Company (KSC), has floated an export tender for 30,000 t billets (150*150mm). The shipment is likely to be scheduled for May’21. The company is expecting the price to be in the range of $550-555/t, FoB.
  SteelMint’s bi-weekly assessment for Iranian billets is $550/t, FoB, up by $5 w-o-w.
• Vietnam billet export offers remain rangebound: The BF route billet export offers from Vietnam remained stable at $590/t, FoB.
• Thailand: The imported billet prices in Thailand were in the range of $600-605/t, CFR.

SteelMint’s assessment for billet imports in SE Asia is $605/t CFR, up by $5-10 w-o-w.