SE Asia: Billet Market Update
Formosa Ha Tinh Corporation (FHS), Vietnam’s largest steel manufacturer of the country has revealed the billet export offers today for shipments scheduled by July. The price offered by the company is reported to be USD 465/MT, FoB, up marginally by USD 4/MT against last month.
Thailand books 15,000 MT billets from Russia - This week, a deal of quantity 15,000 MT has been concluded for which shipment is scheduled in Jun’19. The trade price of the shipment was reported to be USD 450/MT, CFR Thailand
The trade sentiments are reported supportive and are expected to remain in the form for some time. According to SteelMint analysis, US sanctions on Iran will lead to billet trades, more within South East Asian countries.
Outlook: Another factor which will anticipate the strong trade sentiments in South East Asia is the tariff cut on Turkish steel products by US which will support the increase in scrap prices and hence the billet export offers.
In last couple of days, imported scrap prices in Turkey have recovered by USD 5-7/MT in fresh deals concluded.
source: SteelMint
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