SE Asia: Billet Import offers Rise Marginally; Deals Observed

This week, numerous deals were heard to have happened in the SE Asian region. If sources are to be believed, approximately 100,000 MT billets were booked to SE Asia from Iran and India this week. The bookings were largely made from Thailand and the Philippines with an average price of USD 365-375/MT, CFR. Among these bookings, approximately 30,000 - 40,000 MT billets are having high manganese content, which is being booked by the Philippines, and rest are scheduled for Thailand, few reports show. However, SteelMint could not confirm all bookings until the publishing time of this report.

SteelMint assessment for billet import offers in the SE Asian region is at USD 365-375/MT CFR, up USD 5 against last week.

SteelMint Analysis- The current billet import offers in SE Asia are at USD 365-375/MT, CFR levels. And as per few reports and sources, the Philippines has booked approximately 40,000 MT billets at USD 370-375/MT, CFR, sources also claim some bookings have been made from India too. Whereas high manganese content billets fetch a premium of up to USD 15-20/MT (approx.), depending upon the end-use, SteelMint learned during a conversation with industry experts and trade sources. According to SteelMint analysis, the price levels are not rationalizing with the facts.

Vietnam- The billet export offers from the country were reported to be at USD 382/MT, FoB.