SE Asia Billet Import Prices Fall Amid Slide in Offers from CIS Nations
This was the consecutive week when SE Asia billet import market was reported sluggish with offers dropping sharply. The billet import offers in the region were assessed at USD 385-390/MT, CFR down, USD 15-20/MT against last week. The falling Turkey's import scrap prices have managed to keep the market sentiments weak in the region.
The Turkish imported scrap prices have marginally moved down in recent deals, while market believes the prices to have more-or-less stabilized at these levels for the short term due to improvement observed in Turkish Billet and Finished steel demand.
Billet export offers from CIS witness further drop - This week billet export assessment from CIS nations stands at USD 345-350/MT, FoB Black Sea, down USD 10/MT against last week. The market sentiments were reported weak in the region.
Vietnam billet offers - This week Vietnam’s domestic billet offers are at USD 410/MT, down USD 10/MT against last week. Marketers still prefer domestic market amid lower prices realizations in exports.
A Thailand based market participant highlighted that no recent offers were heard recently. However last indications heard for Indian origin induction grade billet was at USD 380-385/MT, CFR.
As per SteelMint’s methodology, an assessment of US-origin HMS 1&2 (80:20) scrap has inched down to USD 226/MT, CFR Turkey, slightly down by USD 2/MT against last week's report. While assessment of European origin HMS 1&2 (80:20) also stands stable at around USD 220/MT, CFR Turkey. Turkish imported scrap prices continue to stand at 3 - year low levels, as per data maintained by SteelMint.
source: SteelMint
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