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
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