Global Billet Market Overview: Week 47, 2019

This week billet export offers from all the regions rose sharply.

Iran- This was the consecutive week, when country’s billet export offers have gained a rise in a recent deal. The country is reported to book billets to Indonesia in recent, market sources reported to SteelMint. According to sources, Iran booked 30,000 MT billets at USD 365-370/MT, FoB Iran. With this deal the billet export offers from the country has surged by USD 10/MT. SteelMint assessment for Iranian billet are standing at USD 370-375/MT, FoB Iran.

CIS - This week, Philippines has booked around 40,000 MT billets from CIS Nations at USD 415-420/MT, CFR. With this deal, the billet export offers from CIS nations are surged by USD 10/MT. SteelMint assessment for billet export offers from the region are at USD 385-390/MT, FoB Black Sea. Market sentiments were reported strong in the region.

SE Asia - This week SE Asia billet import market was reported trade operative. The region was reported to book around 40,000 MT billets from CIS Nations. With these bookings, the billet export offers from CIS and India have moved up. SteelMint assessment for billet import offers in SE Asia is at USD 415-420/MT, CFR, up USD 10/MT against last week. Indian billet export offers were reported at USD 400-405/MT, FOB.

Vietnam - This was the consecutive week, when no export offers were reported from the country. However, domestic billet offers were heard around USD 405/MT ex-works, up identical as last week.

India- With rise in global demand, the billet export offers from the country surged by USD 20/MT. Current billet export offers from the country are at USD 395-405/MT, FoB India. Also, there was some dubious deal to SE Asia is reported to conclude from the country. However, SteelMint couldn’t confirm about the deal till the time of publish of this article. Vizag Steel’s export tender for 90*90mm & 65*65mm billet were heard to have cancelled amid low bids. However, other lots of 150*150mm bloom export tender are under negotiations.

China- Chinese domestic billet market was settled at RMB 3,440/MT, up RMB 50/MT against last week. The market sentiments in the country are strong stable in the country.