As per SteelMint’s methodology, an assessment of US-origin HMS 1&2 (80:20) scrap has moved down to USD 234/MT, CFR Turkey. Prices have moved down by around USD 10 /MT against last week’s report, while in comparison to the last booking during the closing of last week, the price drop is around USD 6-7/MT. While assessment of European origin HMS 1&2 (80:20) currently stands at around USD 228-229/MT, CFR Turkey.
Iranian Billet Export Offers Witness a Further Drop- This week Iranian billet export market was reported dull with further drop in offers against last week. Current billet export offers from the country are standing at USD 350-355/MT, FoB, down USD 5/MT against last week.
SE Asia billet market- This week, SE Asia Billet market was reported with weak sentiments and stable offers against last week. SE Asia’s current billet import indication is at around USD 405-410/MT, CFR levels, identical as last week. Price war in the region is weakening the sentiments in the region which is being supported by falling Turkey’s imported scrap
India- Rashtriya Ispat Nigam Limited (RINL) - state owned steel maker under the Ministry of Steel, has invited an ocean tender for 8,127 MT Billets and 5,418 MT Bloom. The size of the tender was reported to be 90*90 mm and 150*150 mm respectively. Last date of bid submission is 24 Sep’19 by 14:00 HRS.
Billet export offers from CIS reported stable- This week billet export assessment from CIS nations stands at USD 355-360/MT, FoB Black Sea, identical as last week. The market sentiments were reported weak in the region.
Vietnam billet offers - This week Vietnam’s domestic billet offers are at USD 420-425/MT, identical as last week. Amid lower prices in exports, mills were heard preferring selling billets in domestic market.