Global Billet Market Overview: Week 31, 2019
This week global billet market witnessed some trades from Iranian mills to China. The prime reason for China importing billets is imposition of environmental restrictions production. The other prime markets remained silent amid disparity between bids & offers.
China Books 44,000 MT Billets from Iran- According to market sources report to SteelMint, China has booked around 44,000 MT billet from Iran this week. The deal value was reported to be USD 390/MT FoB Iran for which landed price would come around USD 440-445/MT, CFR levels.
Earlier this month also, China had booked around 200,000-300,000 MT from Qatar and Iran at USD 440-450/MT CFR.
This week Iranian billet export offers reported identical as last week; USD 390-395/MT, FoB. The country’s export market sentiments remained supported on the back of a deal to China.
Billet export offers from CIS inch down- This week offers from CIS nations were assessed at USD 415/MT, FoB Black Sea, down USD 5/MT against last week. However buying interest is seen around USD 410/MT, FoB Black Sea. The market sentiments were reported weak in the region.
South East Asia: The SE Asian billet market sentiments were reported dull this week amid no trades. South East Asia billet import offers are assessed around at USD 450-455/MT, CFR levels, this week, the trade sentiments were reported weak in the region. However, no drop in the offers was witnessed.
Vietnam billet offers reported stable- This week Vietnam’s billet offers are at USD 458/MT, CFR Manila, identical as last week. The trade sentiments are reported stable in the region.
China domestic billet witness a drop of RMB 30: This week Chinese domestic billet prices in Tangshan settled at RMB 3,620/MT, down RMB 30 against last week. This week, billet trade sentiments in China were reported weak.
Chinese government extends anti-pollution production curbs throughout August- The Tangshan Ecology and Environment Bureau have reported to the municipal government to issue the “Intensified Management and Control Plan for Air Pollution Prevention and Control in the City in August”, which will limit the production of the steel industry up to 50%, and take effect from August 1 to August 31.
To fill this gap left by billet production cuts of BF grade, Chinese steel manufacturers have now start importing billets from Qatar & Iran.
source: SteelMint
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