SE Asia: Billet Import Offers Witness Sharp Rise

The billet import offers in the SE Asian regions have witnessed a rise following the hike in offers from all major exporting nations like CIS, Iran, etc. A billet booking was reported from Iran at USD 340/MT, FoB levels to SE Asia. The quantity and destination country could not be confirmed until the publishing of this report. Although, the hearsays about the quantity was approximately 20,000-30,000 MT.

A market participant from Thailand reported offers at USD 380/MT, CFR levels from CIS, up by USD 10/MT W-o-W.

SteelMint's assessment for SE Asia billet import is at USD 370-380/MT, CFR up USD 5-10/MT against last week.

Vietnam- Following the global trend, the billet export offers from the country were noted at USD 385/MT, FoB levels, up USD 5/MT against last week.

CIS billet export offers witness a rise- CIS billet export assessment was reported to witness a sharp rise and are at USD 345-350/MT, FoB Black Sea, up USD 10-15/MT against last week.

Tight supplies and lower collection rates have continued to push up the price levels in Turkey and across the globe. The ongoing COVID-19 lockdown has kept many steelmakers away from the market.

SteelMint's assessment for USA origin HMS 1&2 (80:20) scrap now stands at USD 258/MT CFR Turkey, rising by USD 8-10/MT against last week's closing, while in comparison to early last week.