SE Asian billet import market was reported silent for the consecutive week; limited trades reported, due to continuous rise in the export offers from India and Russia. However, offers from Iran were noted stable for this week. The offers in SE Asia have reached a $440/t, CFR level while the buyers are bidding in the range of $415-420/t, CFR. The increased offers have created a huge disparity in the bids and offers, due to which the region has witnessed limited billet imports.
- Indian BF grade billet export offers for SE Asia are assessed around $430/t CFR SE Asia for Sep’20 shipment
- Iranian billet export offers are standing at $420-425/t CFR, SE Asia
- CIS origin billet export offers have moved up in this week and are assessed at $430-440/t, CFR.
This week’s SteelMint assessment for billet import offers in the SE Asia region is at $420-430/t, CFR, up $10-12 against last week.
SteelMint Analysis
According to SteeMint analysis, another reason for limited trades in the region for this week was reasonable domestic prices. For instance, the current domestic billet prices in Indonesia are at IDR 6000/kg ($409/t), excluding 10% VAT, which could have limited the billet imports in the country.
Thailand books 15,000 t billets from Iran: Thailand was reported to have booked 15,000 t billets from Iran, recently. According to SteelMint sources, the booking was made in two lots, of 10,000 t and 5,000 t, and the deal value was reported to be $377/t, and $380/t, respectively, on FoB Iran basis.
SE Asia billet export market update
Vietnam- The billet export offers from the country were reported to be at $415/t, FoB, for Oct’20 shipments. The country was also noted to have booked a sizeable billet cargo for China, however, SteelMint could not confirm the deal until the publishing time of this report.
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