The imported billets market in South East Asia has remained subdued for yet another week in the absence of firm bids. SteelMint’s bi-weekly assessment of imported billets into the Philippines stands at $690-695/tonne(t), CFR Manila, stable w-o-w. However, the market seems to be silent and buyer’s interest has been affected owing to soaring Covid cases resulting in lockdown till 20 Aug’21.
Market highlights
- Vietnam billet export offers stable: Vietnam mills kept their export offers stable this week. BF-route billet export offers were heard at $705/t CFR China.
- Thailand billet price indications move down: Indicative imported billet offers into Thailand are hovering in the range of $700-705/t CFR from various origins, down by around $10/t w-o-w.
- Recent Indian billet export tender fetches dull response: An Indian company had floated a tender for 30,000 t of steel blooms (150x150mm, 3SP/4SP grade) which was heard to have fetched no active participations. Earlier this week, a state-owned Indian steelmaker floated an export tender for spot sale of 30,000 t of steel blooms (BF route, 150x150mm, 3SP/4SP grade). The tender was against 100% advance payment terms with the due date being 11 Aug’21. The shipment is scheduled by Sept’21. According to market sources, the deal was concluded at $625/t FoB.
- Iranian slab export prices drop in recent deal for SE Asia: An Iranian mill has concluded an export tender of 40,000 t slabs to South East Asia, as per SteelMint reports. According to credible sources, the company concluded the tender at $705/t, FoB Iran. The shipment is likely to be scheduled for Sep’21. Iranian slab export prices have fallen by around $40 on m-o-m basis.
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