South East Asia’s imported billets market continued to remain silent on low buying interest amid subdued finished steel demand in the region and bid-offer disparities, SteelMint observed.
SteelMint’s bi-weekly assessment of BF-route billets (150x150mm, 3SP) imported by the Philippines currently stands at around $538/tonne (t) CFR Manila, a marginal increase of $1/t, w-o-w.
- Billet offers from Dexin were heard at around $545-550/t, CFR Manila.
- Price indications in Indonesia were assessed at around $515-520/t, CFR Indonesia for Iranian origin.
Market highlights
- Vietnam’s billet export offers range-bound: Vietnam’s BF-grade billet export offers stood range-bound w-o-w at around $530/t FOB. According to market sources, trade activities were mostly absent throughout the week and demand for semi-finished was also subdued owing to public holidays in the region. However, increased scrap prices have supported billet offers.
- Iran’s billet export market sees muted trading: Iran’s billet export market remained silent this week with prices remaining stable w-o-w. No deals for exports were recorded by SteelMint so far. Meanwhile, a major Iranian semi-finished steel exporter, Chadormalu, floated an export tender for 30,000 tonnes (t) of steel billets with the due date being 6 September. SteelMint’s latest assessment of Iran’s billet (3SP) export prices stood at around $456/t FOB on 30 August, stable w-o-w.
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