SE Asia: Billet Market Remains Silent Amid Less Trades
This was another dull week for global billet market. This week, market was observed exactly in the similar tone with the expectations. The dullness intensity of the global billet market escalated this week, even the Eid festivity did not brought any boon to the market.
According to SteelMint's assessment, the Turkey's scrap import prices are commanding the global billet trade sentiments. This was the consecutive week, in which Turkey's scrap import prices fell down by USD 8-10/MT and weaken the global billet trade sentiments
South East Asia billet import offers are assessed around USD 450-460/MT, CFR levels, marginally down against last week. Offers from CIS nations to Thailand were assessed around USD 450/MT, CFR Thailand and that to Philippines are learned around USD 455-460/MT, CFR Manilla.
Billet export offers from CIS nations- This week offers from CIS nations were assessed at USD 425-430/MT, FoB Black Sea. The sentiments were reported marginally week in the region.
Vietnam billet offers - This week Vietnam billet (130*130mm, 5 SP grade) offers were reported to be USD 460/MT, CFR Manila. The billet export trade sentiments are reported stable this week in Vietnam.
source: SteelMint
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