This was the consecutive week when SE Asia billet import market was reported sluggish with offers dropping sharply. The billet import offers in the region were assessed at USD 385-390/MT, CFR down, USD 15-20/MT against last week. The falling Turkey's import scrap prices have managed to keep the market sentiments weak in the region.
News ID: 6696 Publish Date : 2019/10/03
This week, global billet market reported trade active as China resumed billet imports due to on production cuts in the country. However, Turkey's imported scrap remained heftier market sentiments. Turkish imported scrap prices have fallen again after a couple of fresh deep-sea cargo bookings were signed at prices lower by a further USD 5-6/MT, SteelMint learned from market participants. After remaining firm for over a week, the recent decline has ensured that prices have now plunged by over USD 70/MT in the last 2 months.
News ID: 6600 Publish Date : 2019/09/28
Formosa Ha Tinh Corporation (FHS), Vietnam’s largest steel manufacturer of the country has slashed its billet offers for shipments scheduled by Oct’19. The price offered for billet by the company is reported to be USD 420/MT, CIF North, down USD 35/MT against last month and that to for South is reported to be USD 425/MT, CIF, down from USD 460, CIF against last month.
News ID: 6468 Publish Date : 2019/09/13
Mid sized mills have raised export offers to Nepal following hike in Indian domestic prices. However demand remained subdued on account of weak steel demand in local market of Nepal as well and equivalent landed cost of mid size & large scale mills steel.
News ID: 6457 Publish Date : 2019/09/12
This week global billet market witnessed less trades with a few deals in Middle East from CIS. Rest all prime markets remained silent. Sharp plunge in global scrap prices turned market sentiments gloomy in global billet market.
News ID: 6419 Publish Date : 2019/09/07
After witnessing some deals towards end of the last week, the SE Asia’s billet import market reported dull this week. Sharp plunge in global scrap prices turned market sentiments gloomy in global billet market. After India upturned its interest towards the region, the SE Asia buyers are now trying to further pull down the billet prices. As a result of which further drop in the offers from CIS nations was seen this week.
News ID: 6414 Publish Date : 2019/09/06
Eastern China’s largest private ferrous scrap consumer and EAF steelmaker - Shagang Jiangsu Steel group has announced another price cut for all grades of domestic steel scrap procurement by RMB 50/MT (USD 7) effective from 30 Aug'19. Notably, this is steel mills' 2nd price cut in a week's time. Prior to this, the company had cut prices by RMB 60 two days back. Falling billet & steel prices resulted in lowering of scrap purchase prices.
News ID: 6375 Publish Date : 2019/08/31
This week global billet market observed few deals in SE Asia. Rest all prime markets remained silent. SteelMint tried to scrutinize the trade silence in prime markets other than SE Asia and learned dipping global scrap prices and slow down in the global economy are the prime reason for this fall.
News ID: 6374 Publish Date : 2019/08/31
Billet : Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli was settled at RMB 3,330/MT, up RMB 20; while the same in Qian‘an area was settled at RMB 3,330/MT, up RMB 10. In the morning session today, Changli area saw cumulative gain of RMB 20 to RMB 3,350/MT. Transactions on billet were smooth after price uptick while price of finished steel mainly trended up.
News ID: 6362 Publish Date : 2019/09/03
The Aug’19 proved out to be the exquisite month for the Indian mills as the ball park figure for billet export deals from the country reached close to 100,000 MT in the month. Vizag Steel, JSW Steel, JSPL and SAIL were reported to be the prime exporters of the month.
News ID: 6355 Publish Date : 2019/09/02
The SE Asian billet import market reported dull this week. No deals were reported this week. The SteelMint analyzed the dim-witted situation in the region and learned; there is disparity between the offers and the buying interest, which has left the SE Asian market with no deals.
News ID: 6287 Publish Date : 2019/09/03
Thailand's new government is expected to pass a budget that will boost steel demand in 2020, which together with new anti-circumvention laws will reverse sagging utilisation rates.
News ID: 6210 Publish Date : 2019/08/28
The SE Asian billet import market is reported to explicit some trades this week. However, no concrete indications were reported by the sources and deal status is still unconfirmed. If sources to be believed; an Indian BF grade billet of quantity 10,000 MT, size; 150*150 mm were booked to SE Asia. The deal value was reported to be USD 430-435/MT CFR.
News ID: 6207 Publish Date : 2019/08/28
This was the consecutive week of the month in which the country witnessed no trades. The billet export offers from the country also got soften to USD 380-385/MT, FoB, down USD 5/MT against last week. The prime reason for the trade silence in the country is dipping raw material prices.
News ID: 6199 Publish Date : 2019/08/27
In recent conversations with industry participants, SteelMint learned that imported scrap prices to South East Asia have observed correction after returning from Eid holidays amid recent softening in finished steel & billet steel futures in China.
News ID: 6194 Publish Date : 2019/08/27
Iranian steelmakers produced a total of 15.61 million tons of steel products during the first four months of the current Iranian year (March 21-July 22) to register an 8% year-on-year increase, the Iranian Steel Producers Association's latest report shows.
News ID: 6164 Publish Date : 2019/08/25
Indian billet prices fell further due to weak demand in finished products and as per daily assessment the drop is about INR 100-500/MT with major correction of INR 500/MT (USD 7) in southern India, Hyderabad.
News ID: 6067 Publish Date : 2019/08/20
This week, Iranian billet export market was reported hushed. No deals were witnessed and mills are in no rush to conclude October deals. Also, country’s billet export offers are standing still at USD 385-390/MT, FoB identical as last week. The prime reason for the market reticence is Eid Festivity.
News ID: 6037 Publish Date : 2019/08/18
The SE Asian billet import market remained silent this week. No deals were reported this week. The market was quite due to weaker sentiments. This week South East Asia’s billet import assessment stands at around at USD 440-445/MT, CFR, down USD 5/MT against last week.
News ID: 5983 Publish Date : 2019/08/16
After observing deals in past few weeks, this week left the Iranian billet market sentiments softened. SteelMint’s current Iran’s billet export assessment stands at USD 385-390/MT, FoB, down by USD 5/MT against last week’s assessment of USD 390-395/MT, FoB.
News ID: 5976 Publish Date : 2019/08/16