The global billet market saw a steep rise in prices for yet another week. The tight scrap availability, leading to soaring global scrap prices, is intensely pulling the global billet prices. Turkish imported scrap prices rallied further and are nearing seven-year high levels.
Iran – Chadormalu Mining and Industrial Company, one of the leading exporters of Iran, had floated an export tender for 30,000 t billets. The company has concluded the export tender at around $475/t FoB Iran. The shipment is likely to be scheduled for mid-Jan’21 and the material is likely to be shipped to China, sources have reported.
In conversation with a few of the leading Iranian mills, we learned that export tenders are likely to be floated shortly with few bigger mills targeting $480-485/t FoB levels. SteelMint assessed the Iranian billet export price assessment to be at $475-485/t, FoB up by $15-20 against last week.
CIS – SteelMint’ss assessment currently stands at $510-520/t, FoB Black Sea, up by $20 against last week. There were unconfirmed reports of a few deals getting concluded to SE Asia, following which few mills withdrew offers to reconsider offers.
India – India’s billet export shipments saw a fall of 50% in Nov’20 to reach 250,000 t. China (~60,000 t), Nepal (~60,000t), and Indonesia (~40,000 t) remained the major destinations followed by Sri Lanka, UAE and Phillipines. RINL, JSPL and SAIL stood as the prominent exporters during the period under consideration. Indian billet export market remained less active. An Odisha, eastern India based private producer reported one rake (2,450 t) of billet (100*100 mm ) export deal to Nepal at around $485-487/t (loaded to rake), equivalent to $505-510/t CPT Nepal. Fresh offers of IF grade billet are assessed at $490/t, loaded on rake.
SE Asia – SE Asian billet import prices continue to saw a rise for this week as well. The import offers have seen hovering between $540-560/t CFR SE Asia levels, up by $20-30/t against last week.
- Vietnam- The BF billet export offers from the country are seen at $530/t, FoB Vietnam levels, up by $20/t against last week.
- Thailand- Billet import offers in the country seen hovering at $540/t, CFR, up by $30/t w-o-w. The billet imports in Thailand, during Oct ’20, recorded at 0.27 mn t, up by 27% m-o-m. Oman, Russia, India, Japan, and Iran stood as the prominent exporters.
This week, SteelMint assessment for billet import in SE Asia is at $540-550/t CFR, up by $30-40 against last week.
China- This week, the billet prices in the Tangshan market (northeast China) settled with an increase RMB 100 ($15), against last week. The prices of commonly traded Q235 billet 150mm diameter were reported at RMB 3,680/t ($562/t) in Tangshan, inclusive of 13 % VAT.
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