Global Billet Market Overview: Week 26, 2019
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The boosted Turkey's scrap import prices are expected to carry along glad tidings for the global billet market trade sentiments. However, the market awaits billet deals to be concluded at high prices.
Turkey imported scrap prices have rebounded by USD 10-12/MT against last week. SteelMint's assessment of imported HMS 1&2 (80:20) stands at USD 293/MT, CFR Turkey.
Offers from CIS nations marginally gone up: This week offers from CIS nations were assessed at USD 415-420/MT, FoB Black Sea, up by USD 5 against last week. The sentiments were reported marginally strong in the region.
Iran billet export market sentiments remain dull on weak demand: This was another dull week for Iranian billet export market. In fact, the country's billet export market went through resilient phase throughout the month. This week country's billet export offers were reported between USD 370-375/MT FoB. The country's billet export market is battling with US sanctions on increased pressure on SE Asia and Middle East countries.
South East Asia billet market: South East Asia billet import offers are assessed around USD 450-455/MT, CFR levels, the trade sentiments are reported stable this week. Offers from CIS nations to Thailand were assessed around USD 450/MT, CFR Thailand.
The reason which is keeping the marketers in dilemma is US sanctions, which are getting heftier with every passing day.
Vizag Steel floats ocean export tender: Rashtriya Ispat Nigam Limited (RINL)- the state owned steel maker under the Ministry of Steel, has invited a tender for export of 30,000 MT Billets and 20,000 MT Bloom. The due date for bid submission is 02 Jul'19 till 15:00 hrs. The last date of delivery shall be 10 Aug'19 on FoB Basis.
Steel Authority of India - a government of India Company has invited ocean export tender for billets. The tender quantity is reported to be 16,200 MT. The cargo will be shipped from Haldia port and shipping is scheduled by 25th Aug'19. The tender was put up for Prime Mild Steel Non-Alloy Concast billets, size 150*150 mm offered from Durgapur Steel plant and has following specifications - C%:0.17-0.23, Mn:0.60-1.0, S: 0.05 Max P: 0.05 Max Si: 0.10-0.35The last date for bid submission was 28 Jun'19 by 17:00:00HRS [IST].
Vietnam billet offers - This week Vietnam billet (130*130mm, 5 SP grade) offers were reported to be USD 460/MT, CFR Manila. The billet export trade sentiments are reported marginally up this week in Vietnam
Chinese domestic billet prices rally: This week Chinese domestic billet prices settled at RMB 3,620/MT, up RMB 160 against last week. According to SteelMint assessment, the prime reason for such a towering rise is 20-50% steel & sintering production cut in Tangshan until 1st Aug due to curb air pollution. Also, this week's capacity utilization rate is reported to slow down by 2.39% in Tangshan against last week. Another reason for this high rise in billet prices is expected calm in US-China trade war.
