Global Billet Market Overview: Week 45, 2019
...
This week global billet prices remained supported on the back of price hike in imported scrap. Billet exporters in Iran, India and Russia are expecting offers to remain high in near term. With few trade deal negotiations ongoing, market is expected to turn active.
India- Vizag Steel, a government of India owned mill had floated bloom export tenders of size; 200*200 mm and 150*150 mm and quantity 20,000 MT and 30,000 MT respectively.
According to market sources report to SteelMint, the company has concluded the tender for size 150*150mm; 30,000 MT quantity recently. As per sources, the tender has been concluded at around USD 370-375/MT, FoB India. The material shipment is to be made by 25 Nov'19 for IS 2830 C20MMn Gr A and 30 Nov'19 for IS 2830 Gr A.
CIS - This week billet export offers from CIS nations stands at USD 365-370/MT, FoB Black Sea, up USD 5/MT. Market sentiments were reported stable in the region.
Iran- This week Iranian billet export market remained silent. However, offers from the country rose marginally. SteelMint assessment for Iranian billet are standing at USD 350-360/MT, FoB Iran, up USD 5/MT against last week.
Khouzestan Steel Company (KSC) - one of the leading exporters of Iran, has invited export tender for billets (150*150 & 130*130mm) of quantity 30,000 MT. The tender due date was 8 Nov'19. The company is eyeing to conclude the billet deal at USD 360/MT, FoB Iran.
SE Asia - This was the consecutive week, when billet import offers in the region remained stable. Although, there were some scuttlebutts in the region about Indian origin billet deal getting concluded to SE Asia but SteelMint couldn't confirm about the same till the time of publishing of this report.
SteelMint assessment for billet import offers in SE Asia is at USD 400-405/MT, CFR Thailand, identical as last week. There are indications that prices are expected to move up by USD 5-10/MT early next week with recent deals being under negotiation.
Vietnam- For this week as well, no export offers were reported from the country. However, domestic billet offers were heard around USD 405/MT ex-works, up USD 5/MT W-o-W.
