Global Billet Market Overview: Week 46, 2019
This week Billet export offers from all the regions rose marginally. The prime reason of this increased offer is active demand and supported scrap prices in Turkey.
India- SAIL, a government of India enterprise, heard to have booked 6-8 parcels; 15,000-20,000 MT each of billets/blooms for Dec’19/early Jan’20 shipments in last one month. Indicative price for BF grade 150*150mm billet is assessed at USD 380-385/MT, FoB India.
Iran- Iranian billet export market reported trade active this week. The country is reported to book billets to SE Asia in recent, market sources reported to SteelMint. According to sources, the country concluded the deal at USD 360-365/MT, FoB Iran for Jan’20 shipment. However the deal quantity could not be confirmed at the time of publishing this report.
With this deal the billet export offers from the country rise marginally. SteelMint assessment for Iranian billet are standing at USD 360-365/MT, FoB Iran, up USD 5/MT against last week.
CIS - This week billet export offers from CIS nations stands at USD 370-375/MT, FoB Black Sea, up USD 5/MT. Market sentiments were reported stable in the region.
SE Asia - SteelMint assessment for billet import offers in SE Asia is at USD 405-410/MT, CFR, up USD 5/MT against last week. Turkey’s imported scrap prices are keeping the market sentiments supported in the region.
Vietnam - Formosa Ha Tinh Corporation (FHS), Vietnam’s largest steel manufacturer of the country has revealed its billet offers for shipments scheduled by Dec’19-Jan’20. The price offered for billet by the company is reported to be USD 400/MT, CIF North, stable against last month and that to for South is reported to be USD 405/MT, CIF.
China- Chinese domestic billet market was settled at RMB 3,390/MT, up RMB 60/MT against last week. The market sentiments in the country are strong stable in the country. As per marketers, production curbs in China backed by restriction on scrap imports in the country are expected to drive the billet imports to the country.
source: SteelMint
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