This week global billet market remained silent amid Eid holidays. Even the post festivity is not expected to defeat the weak billet export market sentiments, amid weakening global scrap prices.
According to SteelMint’s assessment, the prime reason expected for weaken trade sentiments after Eid holidays is Turkey’s scrap import prices. Last week, Turkey’s scrap import prices fell down by USD 8-10/MT and is expected to witness more downfall after the holidays, which in turn will affect the billet market sentiments.
South East Asia billet import offers are assessed around USD 460/MT, CFR levels, marginally down against last week.
Iran-SE Asia billet export offer– In recent, one of the leading billet producer of Iran, offered 30,000 MT billets to SE Asia at USD 390/MT FoB. The shipment to be scheduled for end Jun’19. However few offers for August are learned around USD 380/MT, FoB.
Vietnam billet offers – This week Vietnam billet (130*130mm, 5 SP grade) offers were reported to be USD 460/MT, CFR Manila. The billet export trade sentiments are reported stable this week in Vietnam.
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