Global Billet Market Overview: Week 29, 2019
Global billet market witnessed some trades in SE Asia from Iranian mills; however disparity between bids & offers kept trades low in other markets. CIS nations: This week CIS billet export market remained slow witnessing less deals amid disparity between bids & offers.
According to market sources report to SteelMint, current offers from the region are at USD 420-425/MT, FoB, Black Sea. However, buying interest is seen at USD 415-420/MT, FoB Black Sea.
Iranian mills conclude billet export deals to SE Asia- Iranian billet export market has come back strongly this week with deals being reported to SE Asia. Iran’s major mill – Khouzestan Steel Company (KSC) concluded billet export deal last week for 50,000 MT at USD 385/ FoB Iran for end September shipment, SteelMint learned from market sources.
As per sources, another deal for similar quantity was reported at USD 383/MT FoB Iran and another parcel for similar quantity was learned to be under negotiations. One of the prime steel producers of the country highlighted that they are booked till Sept’19.
However the billet export offers from Iran remained unchanged for this week. Market sentiments remained stable amid stability in Turkey imported scrap prices.
South East Asia billet market: According to market sources report to SteelMint, current offers to SE Asia are at USD 455-460/MT CFR however buying interest is seen at USD 445-450/MT, CFR SE Asia levels. Prices have softened by USD 5-10/MT against last week.
Vizag Steel floats export tender - RINL (Vizag Steel) a state-owned steel maker under the Ministry of Steel, has invited a tender for export of 30,000 MT billets and 30,000 MT blooms. The sizes were reported to be 65*65, 77*77, 90*90 mm for billets and 150*150 mm for blooms. Interested bidders can submit their bids till 26 July ‘19 at 14:00 HRS. The bidders are requested to submit their offers online, with best price in USD per MT on FoB st Visakhapatnam (GPL) on direct export basis. Vizag steel re-bar mills are undergoing schedule maintenance.
Vietnam billet offers - This week Vietnam’s billet offers are at USD 460/MT, CFR Manila. The trade sentiments are reported marginally weak in the region. Domestic billet offers from Vietnam were learned to be around USD 470-475/MT in northern & southern Vietnam.
China domestic billet witness a drop: This week Chinese domestic billet prices settled at RMB 3,620/MT, down RMB 20 against last week. This week, billet trade sentiments in China were reported weak.
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
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
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
Higher silver supply to reduce global deficit by 4% in 2024
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
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
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
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
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
