SE Asia: Billet import prices up marginally
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SE Asian billet import market was reported silent this week amid soft demand due to the rise in the billet export offers from India, Iran, and CIS Nations. Amid slow demand in finished steel, the buyers are bidding low i.e. in the range of $390-400/t, CFR. While the offers in the region are between $405-420/t, CFR.
- Indian BF grade billet export offers for SE Asia are assessed around $410-420/t CFR SE Asia for Sep'20 shipment
- Iranian billet export offers stand at around $410/t CFR SE Asia
- CIS origin billet export offers have moved up this week and are assessed at $375/t FoB Black Sea
This week's SteelMint assessment for billet import offers in the SE Asia region is at $410-415/t, CFR, up $5-10 against last week.
However, countries like Indonesia are likely to increase their finished steel prices by IDR 200/kg (~$13/t) so that they can enjoy some margins and resume billet bookings, SteelMint learned from the market participant. Currently, there is a huge disparity between bids and offers in SE Asia.
SE Asia billet export updates
Indonesian mill concluded billet export deal to China- The country was reported to have booked around 10,000-20,000 t billets for China at $420-425/t CFR this week, sources reported to SteelMint. The country was noted active in the billet export market from the past couple of weeks.
Vietnam's Formosa raised billet offers- Formosa Ha Tinh Steel, one of the leading steel manufacturers of Vietnam has released its offers for Sep'20 shipment. According to sources, the company is offering billets at $400-410/t, CIF (subjected to grade and size), up $4-5/t, against last month. The country was also reported to have booked ~60,000 t billets for China at $420-425/t, CFR. However, SteelMint could not confirm this deal until the publishing time of this report.
