Global Billet Offers Remain Stable Post Holidays

Global billet market has remained calm so far after the long New Year Holidays. Global billet market did not pose any strong sentiments neither rising offers yet. Amid approaching New Year holidays with few suppliers remaining out of market, the global billet market started losing its pace and tone since mid Dec'19. However, rising Turkey's imported scrap price didn't allow the global billet offers to come down.

Now approaching second week of Jan'20, limited trade activities were witnessed till date. One of the prime reasons for limited trade flow is massive flood in Indonesia, which is a sizeable billet importing nation. The event is also being supported by slow down in China's buying amid decreasing temperature in the country and stable domestic billet prices.

CIS billet export price assessment stands stable this week at USD 410/MT, FoB Black Sea.

However, other SE Asian nations like Philippines were reported trade active. The country booked 30,000 MT billet from Russia at USD 440-445/MT, CFR Manila