Global Billet Market Overview: Week 50, 2019

This week global billet offers offers from all the markets have gone up amid incessant rising trend in the global scrap prices.

CIS - This week, billet export offers from CIS nations, rose marginally and are standing at USD 400-405/MT, FoB Black Sea, up USD 5/MT, against last week.

SE Asia - Amid increasing Turkey's imported scrap prices, the billet import offers in the region have marginally gone up by USD 5/MT. SteelMint assessment for billet import offers in SE Asia is at USD 440-445/MT, CFR Thailand, up USD 5/MT against last week.

Vietnam - Formosa Ha Tinh Corporation (FHS)- Vietnam's largest steel manufacturer of the country has announced its billet offers for Jan'20 shipments. The price offered for billet by the company is reported to be USD 420/MT, CIF North and that to for South is reported to be USD 425/MT, CIF, surged by USD 20/MT, against last month.

India - Recent deals from an Indian private mill have been heard at USD 415-420/MT FoB levels for Feb shipments. Last week deals for 125*125 mm billet were heard concluded at USD 409-410/MT, FoB India.

China- Chinese domestic billet market was settled at RMB 3,390/MT, down RMB 70/MT against last week. The market sentiments in the country were reported weak.

SteelMint's assessment for US-origin HMS (80:20) scrap now stands at USD 300/MT, CFR Turkey, up by USD 10-11/MT since the opening of the week.