SE Asia: Billet import prices witness an increase in recent deals

This week, the SE Asian billet import market reported having booked sizeable billet volumes, with Iran and Russia being the predominant supplier. The deals concluded are at increased price levels. However, due to increased global scrap prices and continuous rising Chinese rebar futures, we saw a high bid-offer disparity. The offers have crossed $480/t, CFR, while the bids have seen hovering at $465-470/t, CFR levels.

Deals & offers-

CIS- This week, Russia reported to have booked a sizeable volume for a SE Asian destination at $475-480/t, CFR. The billet export offers from the region saw a jump of $12-15/t and are at $440/t, FoB Black Sea.

India- It was the second consecutive week when Indian mills witnessed posing limited offers in the global market. However, we heard a primary private mill offering above $500/t, CFR levels. Although, we assessed Indian BF route billet export offerings to be at $440/t, up by $5 against last week.

Iran- The export offers from Iran saw a sharp rise this week in recent bookings for SE Asia and China. The country reported having booked over 40,000 t billets for a SE Asian destination in the price range of $430-440/t, FoB Iran. Currently, the Iranian billet export offers are at $435/t, FoB.

Vietnam- We heard a couple of deals from the country of over 20,000 t for China in the $480-495/t CFR. The current billet export offers (BF route) from the country are at $485-490/t, FoB Vietnam.

Thailand- Billet import offers in the country seen at $485/t, CFR, up by 12-15/t w-o-w

This week, SteelMint assessment for billet import offers in SE Asia is at $475-480/t, up by $5-10 against last week.