Global Billet Market Overview: Week 22, 2019
Billet export offers from CIS nations weakened following drop in scrap prices. Turkey’s scrap import prices witnessed a decline this week; a drop of USD 8-10 is reported against last week. SteelMint’s assessment for US origin HMS (80:20) stands at USD 304/MT, CFR Turkey, lower by around USD 8- 10 against last week. This drop is weakening the billet trade sentiments across the globe.
Offers from CIS nations witnessed a drop: CIS nations have pulled down their billet offers this week and are assessed at USD 425-430/MT, FoB Black Sea. Last week offers were heard in the range of USD 430-435/MT, FoB Black Sea. Since few offers were learned to remain on high side, not many trades were reported this week.
Few major Iranian mills raised offers: In recent, a deal has been concluded to SE Asia from Iran, sources reported to SteelMint. The deal quantity was reported to be 30,000 MT billet at around USD 390/MT, FoB. The shipment is scheduled for Jul’19. Following this, mills have raised offers to USD 395/MT, FoB Iran.
Iran-SE Asia billet trade: In recent, a deal has been concluded to SE Asia from Iran, sources reported to SteelMint. The deal quantity was reported to be 30,000 MT billet at around USD 390/MT, FoB. The shipment is scheduled for Jul’19.
Vietnam billet offers inch down - This week Vietnam billet (130*130mm, 5 SP grade) offers were reported to be USD 460/MT, CFR Manila. The trade sentiments are reported marginally weak in Vietnam, this week. Offers have come down by USD 5 against last week.
India’s SAIL issues 18,900 MT billet export tender - Steel Authority of India - a government of India Company has invited an ocean export tender for billets from its Durgapur Steel plant. The tender quantity is reported to be 18,900 MT billets (Prime Mild steel and non alloy concast) with size 125*125 mm having specifications; C-0.27-0.32%, Mn-0.70-0.90%, S-0.05% max, P-0.05% max and Si - 0.15-0.35% . The cargo will be shipped from Haldia port. The last date for bid submission was 31 May’19 by 16:00:00 HRS [IST] and material shipment schedule was by 31 Jul’19.
China domestic billet prices fall: This week Chinese domestic billet prices settled at RMB 3,560/MT, down RMB 30 against last week. This week, billet trade sentiments in China reported weak.
Turkey billet export offers: This week billet export offers of Turkey were reported to be USD 420-425/MT, FoB, mostly stable this weekThe country’s trade sentiments went through a weak phase this week.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Russia takes aim at US nuclear power by throttling uranium
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project