SE Asia Billet Market Update- 5 Jul'19

The SE Asian billet market has witnessed an increase in offers after Turkey's scrap import prices has started gaining rise since last week, however the market is still waiting for any deals to conclude at increased prices.

South East Asia billet import offers are assessed around at USD 460-465/MT, CFR levels, the trade sentiments are reported marginally strong this week in the region. SteelMint learned from sources that billet export offers from Russia stands at USD 460/MT, CFR Manila.

Billet export offers from CIS nations up by USD 5- This week offers from CIS nations were assessed at USD 420-430/MT, FoB Black Sea. The sentiments were reported marginally strong in the region.

No firm billet export offers from Vietnam were reported this week.

Also, the US sanctions ramifications can be witnessed in the region, which are heftier over rising Turkey's scrap import prices. SteelMint's assessment of imported HMS 1&2 (80:20) stands at USD 299/MT, CFR Turkey up, USD 10-12/MT against last week.