SE Asia Billet Market Remain Silent Amid Monsoon

The SE Asian billet import market reported sluggish this week. No deals were reported this week. The Prime reason for the market reticence is drizzling weather conditions in the region. Also, Eid festivity remained hefty over the global billet trades. However, no drop in the offers was witnessed. This week South East Asia's billet import assessment stands still at USD 440-445/MT, CFR, identical as last week.

Billet export offers from CIS witness a drop- This week billet export assessment from CIS nations stands at USD 405-410/MT, FoB Black Sea, down USD 5/MT against last week. The market sentiments were reported weak in the region.

Vietnam billet offers inch down- This week Vietnam's billet offers are at USD 450/MT, CFR Manila, down USD 2/MT against last week. The trade sentiments were reported weak in the region.

Turkey imported scrap prices inched down - SteelMint learned from industry participants that Turkish imported scrap market witnessed limited trades, reason being the same; Eid festivity. SteelMint's assessment of US-origin HMS 1&2 (80:20) scrap inched down to USD 285-287/MT, CFR Turkey against the last week report of USD 288-289/MT, CFR. While assessment of European origin HMS 1&2 (80:20) stands at USD 278-280/MT, CFR Turkey.