SE Asia Billet Market Update - 24 May'19

Turkey's increased scrap import prices are driving the trade sentiments of South East Asian billet market as well. SteelMint's assessment for US origin HMS (80:20) stands at USD 312/MT, CFR Turkey, higher by around USD 10 against last week

Billet export offers from CIS have surged this week and are assessed at USD 430-435/MT, FoB Black Sea.

Iran - Philippines billet trade; As per sources, a deal has been concluded from Iran to Philippines. The deal quantity was reported to be around 30,000 MT billet at USD 420/MT, CFR.

Vietnam billet offers - This week Vietnam billet (130*130mm, 5 SP grade) offers were reported to be USD 465/MT, CFR Manila. The trade sentiments are reported stable in Vietnam, this week.

Thailand books 30,000 MT billets booked from Russia - This week, a deal of quantity of around 30,000 MT has been concluded this week. The trade price of the shipment was reported to be USD 455/MT, CFR Thailand.