SE Asia: Billet Import Market Turns Active

This week, SE Asia billet market was reported eventful. Some deals to China were witnessed from the region. Russian billet offers in the region have also moved up marginally and are assessed at USD 395-400/MT, CFR Thailand, up USD 5-10/MT.

While that of to Philippines are assessed at USD 400/MT, CFR Manila. Market sentiments in the region are getting strengthened; clues can be witnessed with recent deals from Malaysia to China. According to sources reported to SteelMint, China has booked around 10,000 MT billets from Malaysia at USD 400/MT, CFR China. The shipment is scheduled for Nov'19.

Also, boost in Turkey's imported scrap prices have intensified the trade sentiments in the region. This was the second consecutive week in which Turkey's imported scrap prices have increased and has resulted in improving region's billet import market sentiments.

Billet export offers from CIS remained stable - This week billet export assessment from CIS nations stands at USD 350-355/MT, FoB Black Sea, identical as last week. However, a deal of quantity 20,000 MT at USD 370/MT, CFR is been reported from the region towards the beginning of this week. Market sentiments are reported stable in the region.

Vietnam's Formosa lowers billet offers - Formosa Ha Tinh Corporation (FHS), Vietnam's largest steel manufacturer of the country has slashed its billet offers for shipments scheduled by Dec'19. The price offered for billet by the company is reported to be USD 400-405/MT, CIF North, down USD 20/MT against last month.