SE Asia: Billet Import Prices remain Stable Amid Limited Trades

This week, SE Asia billet import market pose trade silence after purchasing around 30,000 MT billets from Russia, earlier this week. The deal value was reported to be between USD 440-445/MT, CFR Philippines.

SteelMint assessment for billet import offers in SE Asia is at USD 445-450/MT, CFR Thailand, identical as against last week.

Indonesia's Dexin Steel starts offering billets - As per reports, Dexin Steel Indonesia; a JV between China's Delong's subsidiary, Delong Steel Singapore Projects Pte Ltd, Shanghai Decent and PT Indonesia Morowali Industrial Park. As per reports, the company is expected to start steel production from 18 Jan'20 and is likely to offer billets for Philippines

Billet export offers from CIS witnessed stable - CIS billet export market is yet to gain complete momentum after New Year holidays. This week, billet export assessment from CIS nations, reported stable and are standing at USD 410/MT, FoB Black Sea, identical as last week.

Turkish mills resume scrap bookings for Feb'20 shipments -SteelMint's assessment for US-origin HMS (80:20) stands at around USD 303-304/MT, CFR Turkey, inching down by USD 1-2/MT against Dec-end price levels. On the other hand, assessment from Europe stands at USD 297-298/MT CFR Turkey.