Global Billet Market Overview: Week 30, 2019

This week global billet market witnessed some trades from Iranian mills even at increased prices. The prime reason for price hike is the supply tightness, SteelMint learned from market sources. The other prime markets remained silent amid disparity between bids & offers.

Iranian mills raise billet export offers- According to market sources report to SteelMint, Iranian mills have raised billet export offers this week by around USD 5/MT against last week. Current offers are assessed at USD 390-395/MT, FoB basis against last week's offer of USD 385/MT, FoB.

Some deals were reported this week from the country for size 150*150 mm of quantity 30,000 MT at USD 390 -393/MT, FoB, Iran. The shipment is booked for Oct'19.

The prime reason behind hike in offers is all the major billet producers of Iran are booked till September, so material availability is an issue.

Billet export offers from CIS reported stable - This week offers from CIS nations were assessed at USD 415-420/MT, FoB Black Sea, identical as last week. However bids were heard at around USD 410-415/MT, FoB Black Sea. A billet trader shared that amid gap between bids and offers, deals were limited.

South East Asia: South East Asia billet import offers are assessed around at USD 450-455/MT, CFR levels, this week, the trade sentiments are reported marginally weak in the region. Prices have softened by USD 5/MT against last week.

Vietnam billet offers inch down- This week Vietnam's billet offers are at USD 458/MT, CFR Manila, down USD 2/MT against last week. The trade sentiments are reported marginally weak in the region.

China domestic billet rose by RMB 30: This week Chinese domestic billet prices in Tangshan settled at RMB 3,650/MT, up RMB 30 against last week. This week, billet trade sentiments in China were reported strong.