SE Asia Billet Market Update - Week 22, 2019

Turkey's scrap import prices witnessed a decline this week; a drop of USD 8-10 is reported against last week. SteelMint's assessment for US origin HMS (80:20) stands at USD 304/MT, CFR Turkey, lower by around USD 8- 10 against last week. This drop is weakening the billet trade sentiments in SE Asia.

CIS nations have pulled down their billet offers this week and are assessed at USD 425-430/MT, FoB Black Sea. Last week offers were heard in the range of USD 430-435/MT, FoB Black Sea.

Iran-SE Asia billet trade- In recent, a deal has been concluded to SE Asia from Iran, sources reported to SteelMint. The deal quantity was reported to be 30,000 MT billet at around USD 390/MT, FoB. The shipment is scheduled for Jul'19. Now fresh offers from major Iranian mills stands at USD 395/MT, FoB.

Vietnam billet offers - This week Vietnam billet (130*130mm, 5 SP grade) offers were reported to be USD 460/MT, CFR Manila. The trade sentiments are reported marginally weak in Vietnam, this week.