SE Asia: Vietnam Books 100,000 MT Billets to China

The SE Asian market has crop up as a net exporter for the week. Approximately, 100,000 MT billets were reported to book from the region to China. However, limited billet imports were witnessed in the region, with similar price levels as last week.

-- This week, Vietnam was reported to book approximately 100,000 MT billets to China at USD 390/MT, CFR.

-- PT Dexin Steel, Indonesia is offering billets at USD 385/MT, CFR China for Jul'20 shipments.

SteelMint assessment for billet import offers in the SE Asian region is at USD 365-375/MT CFR, identical as last week.

Also, it is being learned from the scoops that the prime markets of the region such as Thailand, have started preparing for lifting the lockdown and get into the routine with certain guidelines. With this, billet imports are expected to rebound in the region. However, the rebound will not last for much longer as the monsoon is approaching in the region, which would again slow down the construction activities and hence, the billet imports.

CIS nations- The billet export offers from the region were noted to have at USD 340-345/MT, FoB Black Sea, up USD 5 against last week. This week, numerous deals were noted from the region. According to sources reported to SteelMint, over 100,000 MT billets were booked to China between USD 370-375/MT, CFR.