BigMint is a Market Intelligence and Price Reporting firm that caters to the data and analytics requirements of businesses in the commodities sector. It publishes real time prices and information, which is impartial, independent and reliable, sourced from all industry interfaces – sellers, buyers, agents and traders. This data is filtered and passed through very stringent, calculative assessments before final prices are derived, thereby giving our clients accurate pricing.

Go to List

SE Asia: Imported billet prices remain range-bound

...

Semi Finished

BigMint Bureau

786 Reads

12 Mar 2021, 18:59 IST

SE Asia: Imported billet prices remain range-bound

This week, SE Asian imported billet market broadly remained silent despite fluctuating global dynamics. Owing to this, the buying bids dipped to $575-580/t, CFR levels - down by $5-10 w-o-w. Though, billet export offers for the region witnessed a rebound along with the Chinese rebar futures yesterday.

However, the bids did not rebound in parallel with the export offers. The billet export offers for the region reported having touched $600-605/t, CFR levels, leading to the bid-offer disparity.

Meanwhile, a few traders booked Indian billet cargoes, which are likely to be shipped for SE Asian destinations.

Deals and offers-

CIS: This week, billet export offers from the region witnessed a marginal rise and are currently at $580-585/t, FoB.

India: Indian mills reported having booked two cargoes of around 50,000 t billets in the price range of $545-550/t, FoB India. Market participants confirmed that one among the two cargoes is likely to be shipped for a SE Asian destination.

SteelMint's bi-weekly assessment for Indian billets (150*150mm, BF route, FoB East coast) is $545-550/t, up by $5-10, w-o-w.

Iran: Iranian billet export market broadly remained silent on bearish global sentiments. However, a couple of leading Iranian mills have floated export tenders for 60,000 t billets (30,000 t each). The shipments are likely to be scheduled for Apr '21.

Iranian mills are likely to have more allocation for billet exports after 21 Mar '21 (after their new year) and before Ramadan (in Apr '21), SteelMint learned during conversations with a trader.

SteelMint's bi-weekly assessment for Iranian billets is currently at $550-555/t, FoB Iran, down by $5 against last week.

Vietnam- This week, billet export offers from Vietnam settled stable after witnessing a rebound amid waving futures. Currently, the BF route billets are offered at $600/t, FoB.

Thailand: This week, the imported billet offers in the country saw a drop of $5-10 and are currently seen at $580-585/t, CFR.

This week, SteelMint assessment for billet imports in SE Asia is $590-600/t CFR, unchanged against last week.