Global Billet Market Overview - Week 44, 2019
Billet export offers from all the major markets remained largely stable with slight uptick in CIS & Iran. However, Turkish imported scrap prices have inched up marginally.
Billet export offers from CIS rise marginally - This week billet export offers from CIS nations stands at USD 365-370/MT, FoB Black Sea, up USD 5/MT against last week. However, no deals were reported at increased offers.
Iran billet export trades remain slow amid holidays- This week Iranian billet export market remained slow amid semi holiday week, on account of Martyrdom of Imam Reza. However, billet export offers from the country increased marginally towards end of the last week. SteelMint assessment for Iranian billet are standing at USD 350-355/MT, FoB Iran, up USD 5/MT against last week. Few major mills are also heard offering billet at USD 360/MT, FoB Iran.
SE Asia-This week, SE Asia billet market remained silent. SteelMint assessment for billet import offers in SE Asia is at USD 400-405/MT, CFR Thailand, identical as last week.
Vietnam- No offers were reported from the country Limited offers for domestic billet were heard around USD 400/Mt ex-works.
India- Rashtriya Ispat Nigam Limited (RINL), a state-owned steel maker under the Ministry of Steel, has invited two bloom export tenders of size; 200*200 mm and 150 mm and quantity 20,000 MT and 30,000 MT respectively. Last date for bid submission is 04 Nov’19 by 15:00 HRS for 200*200 mm size and 14:00 HRS for 150*150mm size. Another govt owned steel company had floated tender for export of 18,900 MT billets and as per sources amid limited participation, company might cancel the tender.
Chinese domestic billet prices fall - Chinese billet prices in the Tangshan region fell by RMB 30/MT to RMB 3,330/MT against RMB 3,360/MT against last week. Market sentiments are still low however lower inventory may lend some support.
source: SteelMint
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