SE Asia: Billet Import Offers Rise Marginally
This week, SE Asia billet market was reported with positive trade sentiments and boosted import offers. Billet import offers in the region have also moved up marginally and are assessed at USD 400-405/MT, CFR SE Asia, up USD 5-10/MT, against last week.
Market sentiments in the region are getting strengthening; clues can be witnessed with a recent deal from Iran in the region. According to sources reported to SteelMint, a deal of quantity 40,000 MT was concluded at USD 347/MT, FoB Iran in the region. The shipment is scheduled for mid Dec’19.
Also, Turkey’s imported scrap prices is another reason for have intensified the trade sentiments in the region.
Billet export offers from CIS rise sharply - This week billet export offers from CIS nations stands at USD 360-370/MT, FoB Black Sea, up USD 10-15/MT against last week. This week, the billet producers from the region increased offers twice, amid supply tightness, SteelMint learnt from market sources. Market sentiments are reported strong in the region.
Vietnam- The country is upturning its interest towards exports. Country’s offers are itself the acquaintances. Billet export offers from the country are assessed at USD 400/MT, CFR China. Production cuts in China are driving the billet imports.
As per SteelMint’s methodology, assessment of US-origin HMS 1&2 (80:20) scrap has now escalated to USD 252/MT, CFR Turkey.
source: SteelMint
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