SE Asia: Imported billet prices rise in recent deals
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SE Asia's imported billet market witnessed sizeable bookings this week. With these deals, prices in the region witnessed an upward trend. The offers in the region touched $580/t, CFR levels. The bookings broadly were from Iran and India. However, the destination country could not be confirmed until the publishing time of this report. Rising global scrap prices supported by climbing Chinese rebar futures and strong seasonal demand in China pulled up the global billet prices.
Deals and offers-
CIS: This week, billet export offers from the region saw a sharp rise of around $25-30/t and are currently at $580/t, FoB.
India: It was the second consecutive week when Indian mills were active in the global billet market. Export prices saw a jump of around $15-20 in recent deals and tenders. Our sources confirmed that in the last five days over 66,000 t BF grade billets were booked for SE Asian and Chinese destinations in the price range of $565-570/t, CFR (equivalent to $530-540/t, FoB India). SteelMint's bi-weekly assessment for Indian billets (150*150mm, BF route, FoB East coast) is currently at $535/t, up by $12-15 w-o-w.
Iran: Iranian billet export prices witnessed a steep rise in a recent deal for China. According to SteelMint sources, around 50,000 t billets were booked for SE Asian and Chinese destinations in the price range of $540-550/t, FoB Iran.
Besides this, a billet tender of Iran's leading steel exporter- Khouzestan Steel Company (KSC) is under-progress. KSC has floated for 30,000 t billets (150*150mm, 3SP grade) for end-Mar'21 shipment. SteelMint's bi-weekly assessment for Iranian billets is currently at $540-550/t, FoB, up by $15-20 w-o-w.
Thailand - This week, the imported billet offers in the country saw a rise of $10-15 and are currently seen at $570-575/t, CFR.
Vietnam- The billet export offers from Vietnam rose after a recent deal for China. The country reportedly booked around 20,000 t billets at $595-600/t, CFR for Apr '21 shipments. Currently, the BF route billets are offered at $590/t, FoB, while the IF route offers are $580/t, FoB Vietnam, up by $25-30 against last week.
This week, SteelMint assessment for billet imports in SE Asia is $570-580/t CFR, up by $10-15 w-o-w.
