SE Asia: Billet Import Offers Remain Stable

This week, SE Asia billet market remained silent. However, billet import offers in the region remained stable even after the Turkish imported scrap prices have inched up marginally. After observing a sharp rebound in prices during the first 3 weeks of October'19 amid numerous bookings witnessed, the prices have mostly remained stable in the last week.

SteelMint assessment for billet import offers in SE Asia is at USD 400-405/MT, CFR Thailand, identical as last week.

Meanwhile, buyers are no in haste to make purchase on increased offers amid slow finished steel demand.

Billet export offers from CIS rise marginally - This week billet export offers from CIS nations stands at USD 365-370/MT, FoB Black Sea, up USD 5/MT against last week. However, no deals were reported at increased offers.

Vietnam- No offers were reported from the country Limited offers for domestic billet were heard around USD 400/Mt ex-works.

As per SteelMint's methodology, assessment of US-origin HMS 1&2 (80:20) scrap has now escalated to USD 254/MT, CFR Turkey, inching up by USD 1/MT, as against USD 253/MT at the closing of last week. The assessment of European origin HMS 1&2 (80:20) stands at around USD 248/MT, CFR Turkey.