SE Asia: Imported billets prices stay supported, trades muted

South East Asia's imported billets prices remained supported this week. However, low buying interest amid subdued finished steel demand in the region and bid-offer disparities kept trades at bay, SteelMint noted.

SteelMint's bi-weekly assessment of BF-route billets (150x150mm, 3SP) imported by the Philippines currently stands at around $625/t CFR Manila, an increase of around $10/t w-o-w.

Market highlights

• Vietnam's billets export offers remain range-bound: Vietnam's BF-grade billets export offers remained range-bound at around $630-640/t FOB this week. The hike in the country's scrap prices has supported billets prices. However, no active deals have been reported at current offers.
  
  
• Thailand's imported billets prices remain largely stable: Imported billets prices in the country remained largely stable this week at around $630-640/t CFR.
  
  
• Indian mills continue to eye higher billets prices: Indian mills' price expectations for billets exports are at around $600/t FOB. However, no active trades have been reported as buyers are resisting procuring at the above-mentioned price.
  
  
• Iran's billets export prices rise in recent deal: An Iranian steel mill has concluded an export deal for 50,000 t of steel billets at around $571-573/t FOB. Prices inched up by around $16/t against the last deal. A lesser number of firm offers currently in the export market and power curbs due to the harsh winter in the region have supported billets prices, SteelMint observed. Meanwhile, Esfahan Steel Company (ESCO) had floated an export tender for 30,000 t of steel billets. The shipments are likely to be delivered in April.