Weekly round-up: Global billet market shows positive sentiment
The global billet market exhibited positive sentiment this week. Billet players were active in the market, some tenders are yet to be concluded. Hike in Turkiye’...
The global billet market exhibited positive sentiment this week. Billet players were active in the market, some tenders are yet to be concluded. Hike in Turkiye's import scrap prices and Chinese steel futures have contributed on rise in billet prices in the global market, SteelMint noted.
Meanwhile, Turkiye's imported scrap prices have risen this week. According to SteelMint, HMS 1&2 (80:20) prices from the US stood at $377/tonnes (t) CFR, increasing by $7/t w-o-w.
Market highlights:
- Iranian billet export prices remain stable: Iran's billet export market remained subdued this week. As per SteelMint's latest assessment of Iran's billet (3SP) export prices remained stable at $470/t FOB on 9 November. Khouzestan Steel Company (KSC) has concluded an export tender for 40,000 t of billets at $470/t FOB and the shipment is scheduled for the end of Dec'23. Meanwhile, Esfahan Steel Company (ESCO) sold 30,000 t of billets at $470/t FOB. The shipment for the tender is scheduled for end-December, as per sources.
- SE Asia billet offers inch up w-o-w: Southeast Asia's billet import market showed positive sentiments on rising production costs. Bid-offer disparities have led to the absence of tender conclusion in the region. Billet import offers for 5 SP grade were heard at $525/t CFR Manila, inching up by $5/t w-o-w.
- Thailand's imported billet offers remain stable: Imported billet offers from the ASEAN region into Thailand were recorded at $515/t CFR.
- Chinese billet prices rise by RMB 90/t w-o-w:
