Competitive Billet Offers from India Put SE Asia Import Prices Under Pressure

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.

Amid high steel inventories and dull domestic demand, Indian mills have turned active for exports. Domestic billet prices for 100*100 mm in India are currently hovering at INR 27,500/MT (USD 383/MT) (GST extra) ex-Mumbai.

Billet export offers from CIS reported stable- This week billet export assessment from CIS nations stands at USD 405-410/MT, FoB Black Sea, identical as last week. The market sentiments were reported moderate in the region.

Vietnam billet offers - This week Vietnam’s domestic billet offers are at USD 450-455/MT, Amid lower prices in exports, mills were heard preferring billets in domestic market.

Turkey imported scrap prices fall further - The prolonging silence by Turkish steelmakers in buying imported scrap has put pressure on global imported scrap prices further, pulling SteelMint’s US-origin HMS 1&2 (80:20) scrap assessment down to USD 278-280/MT, CFR Turkey against the last week report of USD 282-283/MT, CFR.