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SE Asian billet import market witness limited trades, offers remain stable

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BigMint Bureau

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28 Aug 2020, 12:51 IST

SE Asian billet import market witness limited trades, offers remain stable

The SE Asian billet import market saw lean volume trades, as bid-offer spread continued staying for this week as well. Bids remained stable at $420-425/t, CFR, and offers were ranging between $435-440/t, CFR levels. The regional offers have also reached a $435/t, CFR level. The disparity was primarily due to the fluctuating Chinese rebar futures.

Confirmed trades -

This week, Thailand booked around 20,000 t billets from Russia at a price level of $434/t, CFR.
In another deal concluded early this week, nearly 10,000 t of Indonesian billets were booked at around $440-445/t CFR China.
During the end of the last week, India's state-owned primary mill has booked 30,000 t blooms (150*150 mm) through a tender at a price level of $415/t, FoB India. According to SteelMint sources, the shipment is likely to ship for a SE Asian destination.

The Philippines buyers seem interested in increasing their buying bid- During a conversation with a trader, SteelMint learned that one of the leading mills of the country shown an interest in initiating a discussion for IF grade at $435/t, CFR levels. However, it was just a primary level inquiry, he added.

The offers from the major exporting nations were as below-

India- No fresh export offers heard from the private Indian primary mills. However, indicative offers were at $420/t, FoB India levels.
Iran- The billet export offers from the country for a SE Asian destination were in the range of $435-440/t, CFR, unchanged against last week.
CIS- The offers from the region remain unchanged for this as well at $398/t, FoB.
Vietnam- This week, the billet offerings from the country have increased marginally and is currently at $435/t, FoB, up by $5 against last week.

This week, SteelMint assessment for billet import offers in SE Asia have moved up marginally and is currently at $435-440/t, CFR, up by $5 against last week.