SE Asia: Formosa Increases Billet Offers by USD 20/MT

Formosa Ha Tinh Corporation (FHS)- Vietnam’s largest steel manufacturer of the country has announced its billet offers for Jan’20 shipments. The price offered for billet by the company is reported to be USD 420/MT, CIF North and that to for South is reported to be USD 425/MT, CIF, surged by USD 20/MT, against last month.

SE Asia billet prices increase - Amid increasing Turkey’s imported scrap prices, the billet import offers in the region have marginally gone up by USD 5/MT. SteelMint assessment for billet import offers in SE Asia is at USD 440-445/MT, CFR Thailand, up USD 5/MT against last week.

Billet export offers from CIS rise marginally- This week, billet export offers from CIS nations, rose marginally and are standing at USD 400-405/MT, FoB Black Sea, up USD 5/MT, against last week.

Amid the incessant rising trend in the global scrap prices, offers of imported scrap to Turkey continued to rise further every day. After rising by USD 8-9/MT is the previous few days, another couple of deep-seas cargo bookings were concluded today at prices up by another USD 3/MT with buyers remaining particularly active for restocking this week.
SteelMint's assessment for US-origin HMS (80:20) now stands at USD 300/MT, CFR Turkey, further up by USD 3/MT against yesterday, while having increased USD 10-11/MT since the opening of the week. The assessment from Europe presently stands at USD 295/MT CFR.