Amid high steel inventories and dull domestic demand, Indian mills have turned active for exports. Domestic billet prices for 100*100 mm in India are currently hovering at INR 27,500/MT (USD 383/MT) (GST extra) ex-Mumbai.
Billet export offers from CIS reported stable- This week billet export assessment from CIS nations stands at USD 405-410/MT, FoB Black Sea, identical as last week. The market sentiments were reported moderate in the region.
Vietnam billet offers - This week Vietnam’s domestic billet offers are at USD 450-455/MT, Amid lower prices in exports, mills were heard preferring billets in domestic market.
Turkey imported scrap prices fall further - The prolonging silence by Turkish steelmakers in buying imported scrap has put pressure on global imported scrap prices further, pulling SteelMint’s US-origin HMS 1&2 (80:20) scrap assessment down to USD 278-280/MT, CFR Turkey against the last week report of USD 282-283/MT, CFR.