SE Asia: Billet Import Prices Remain Stable
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This week SE Asia billet import market reported with stable sentiments. Increasing global scrap prices have managed to keep billet import sentiments supported in the region. Trade sources reported, billet import offers to Thailand from Middle East is heard at around USD 420/MT, CFR.
SteelMint assessment for SE Asia billet import at USD 410-420/MT, CFR, identical as last week.
As per reports, Iran has reported to book 20,000 MT billets to Thailand at USD 415-420/MT, CFR Thailand. The shipment is scheduled for Mar'20.
However, domestic billet market in few countries of the region have witnessed a positive correction in billet prices amid increase in domestic scrap prices. For instance, Indonesian domestic billet prices rose by 1% from IDR 7500/MT, CIF Jakarta, during last week to IDR 7600/MT, CIF Jakarta, this week, including taxes.
Vietnam billet export offers fall- The billet export offers from the county for 5 SP grade are heard at USD 410-415/MT FoB, down by USD 5-10/MT W-o-W.
Formosa Ha Tinh Corporation (FHS), Vietnam's largest steel manufacturer of the country has revealed its billet offers yesterday for Apr'20 shipments. The price offered for billet by the company is reported to be USD 418/MT, CIF North and that to for South is reported to be USD 423/MT, CIF, down by USD 10/MT, against last month.
Billet export offers from CIS rise - CIS billet export offers witness an increase of USD 5-10/MT amid rising global scrap prices. This week, billet export assessment from CIS nations are at USD 380-390/MT, FoB Black Sea.
Imported scrap prices to Turkey have successively moved up by another USD 15/MT on a weekly basis. With mills now actively procuring for March shipment, the market is expected to remain strong in the coming days.
SteelMint assessment for the USA origin scrap HMS 1&2 (80:20) stands at around USD 275/MT CFR Turkey, increasing by USD 15/MT against price level reported last week closing. Assessment from European origin stands at around USD 270/MT, CFR Turkey.
