SE Asia: Billet Import Market Update
This was the consecutive week, when billet import offers in the region remained stable. However, amid supply tightness, Turkish imported scrap prices are keeping the billet export market sentiments supported in the region.
Although, there were some scuttlebutts in the region about Indian origin billet deal getting concluded to SE Asia but SteelMint couldn’t confirm about the same till the time of publishing of this report.
SteelMint assessment for billet import offers in SE Asia is at USD 400-405/MT, CFR Thailand, identical as last week.
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. Market sentiments were reported stable in the region.
Vietnam domestic billet offers up by USD 5- For this week as well, no export offers were reported from the country. However, domestic billet offers were heard around USD 405/MT ex-works, up USD 5/MT W-o-W
As per SteelMint’s methodology, assessment of US-origin HMS 1&2 (80:20) scrap has now escalated to USD 260/MT, CFR Turkey, increasing by USD 7/MT against last week.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Russia takes aim at US nuclear power by throttling uranium
BHP to spend up to $14 billion on Chilean copper expansion
Aluminum price to average 6% higher in 2024 on strong demand: Fitch
Trump chooses oil fracking boss as energy secretary
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project