SE Asia: Billet import prices up marginally; trade boosts up

This week, the SE Asian billet import market saw sizeable billet volumes booked, after three long weeks. The deals have primarily concluded for Thailand, Indonesia, and the Philippines between the price levels of $435-445/t, CFR. Russia and Iran stood the prominent exporters for the week. The bid-offer spread also saw a contraction this week. The offers in the region have touched $447/t, CFR levels, and bids have seen at $438-440/CFR levels.

Confirmed trades-

• The Philippines reported having booked billets from Russia at $445/t, CFR levels. On the other hand, Thailand booked the Russian billets at $435/t, CFR level. However, the SteelMint could not confirm the volumes until the publishing time of this report.
  
  
• Esfahan Steel Company (ESCO), one of the leading steel exporters of Iran, has booked 10,000t (200*200mm, commercial-grade) billets for a SE Asian destination. The company managed to achieve a price level of $415/t, FoB Iran. The shipment is likely to be scheduled by end-Sep'20 for Indonesia.
  
  

Offers-

• CIS- The offers from the region for a SE Asian destination heard at $446-447/t, CFR.
  
  
• India- The majority of the Indian primary mills have not been offering in the global market amid better realizations in the domestic and the Nepal market. However, a state-owned mill has floated a spot sale tender for the exports of 30,000 t (150x150mm, 3SP/4SP) blooms against 100% advance payment terms. The shipment is likely to be scheduled for mid-Oct'20. The tender due date is 04 Sep'20.
  
  
• Iran- The offers from the country were at $400-405/t, on FoB Iran basis. However, the mills are looking to conclude the new deals above $405/t, FoB Iran.
  
  
• Vietnam- This week, the billet offerings from the country have increased by $10 and is currently at $445/t, FoB.
  
  

This week, SteelMint assessment for billet import offers in SE Asia have moved up marginally and is currently at $435-444/t, CFR, up by $5 against last week.