SE Asia: Billet Import Prices Remain Stable

The billet import offers in the SE Asian region were reported stable this week. However, no deals were witnessed during the week. Stable global scrap prices have managed to keep the billet import sentiments balanced in the region. Also, amid improving the domestic billet market, no offers from China were heard this week, which had disturbed the SE Asian billet market sentiments.

SteelMint's assessment for SE Asia billet import is at USD 410-415/MT, CFR identical as last week.

However, in the absence of active offers from Iran, CIS, and India, Turkey has turned on its interest towards the region and is offering the billets at USD 430/MT, CFR, Jakarta, which is not a workable price in current market dynamics, but it is also worth noting that, the quantity for which the price is being offered is 500 MT, SteelMint learned from its reliable sources.

Meanwhile, the domestic billet offers in Indonesia witnessed a marginal drop and is being offered at IDR 7200/MT, including taxes, down IDR 300/MT against last week amid fallen domestic scrap prices.

Billet export offers from CIS rise marginally - CIS billet export offers witness an increase of USD 5/MT W-o-W amid rising global scrap prices. This week, billet export assessment from CIS nations are at USD 395-400/MT, FoB Black Sea.

Vietnam- The 5SP grade billet export offers from the country were heard to have at USD 415/MT, FoB, up USD 5/MT against last week.

SteelMint assessment for the USA origin scrap HMS 1&2 (80:20) stands at around USD 280/MT CFR Turkey, identical to last week's closing.