Global Billet Market Overview, Week 39
This week, global billet market reported trade active as China resumed billet imports due to on production cuts in the country. However, Turkey's imported scrap remained heftier market sentiments. Turkish imported scrap prices have fallen again after a couple of fresh deep-sea cargo bookings were signed at prices lower by a further USD 5-6/MT, SteelMint learned from market participants. After remaining firm for over a week, the recent decline has ensured that prices have now plunged by over USD 70/MT in the last 2 months.
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.
India: China has booked 40,000 MT billets of size 150*150 mm from a private mill of India at USD 400-405/MT, CFR China.
Indian Mill Concludes 30,000 MT Billet Export Tender- A government of India owned steel maker under the Ministry of Steel had invited an ocean export tender for 30,000 MT bloom. According to sources report to SteelMint, the company has concluded the bloom (IS 2830 grade) export tender. The material offered has specifications – C-0.12-0.23%, Mn – 0.3-1.5%, Si- 0.4% max, P-0.045% max & S-0.045% max. The deal value was reported to be USD 380/MT, FoB.
Iran: Two deals were reported to conclude in recent from Iran; 45,000 MT at USD 395/MT, CFR and 200,000 MT at 385/MT, CFR China. Both the shipments are scheduled for end Oct'19.
China- This week, Tangshan billet market settled at RMB 3320, down RMB 10 against last week. Billet market sentiments in China are reported marginally weak.
As per SteelMint’s methodology, an assessment of US-origin HMS 1&2 (80:20) scrap has now dropped to USD 228/MT, CFR Turkey, down USD 6/MT against last report earlier this week. While assessment of European origin HMS 1&2 (80:20) also stands stable at around USD 222-223/MT, CFR Turkey.
source: SteelMint
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