Weekly round-up: Global billet market witnesses mixed sentiment

The global billet market witnessed mixed sentiments this week. Some active tenders were concluded in the global market on strong demand. No active tender was heard floated in the Chinese market due to the ongoing Golden Week holidays to help monitor price trends in the coming week.

Meanwhile, Turkiye's imported scrap prices fell this week. According to SteelMint's latest assessment, HMS 1&2 (80:20) prices from the US stood at $370/t CFR Turkiye.

Market highlights

• Iranian billet export prices range-bound: Iran's semi-finished steel export market has opted for a wait-and-watch policy on mixed market sentiments. Billet producers are waiting for the market to reopen post China's Golden Week holidays. Some export tenders were concluded in the region. One of Iran's leading steel mills concluded a 30,000 t export tender for billets at $475/t. In another deal heard, 30,000 t of billets were sold at $476/t FOB. The shipment is scheduled for end-November.
  
  
• SE Asia billet prices rise w-o-w: Southeast Asia's imported billet market showed mixed sentiment this week. Buyers preferred to stay silent amid ongoing Golden Week holidays in China. Meanwhile, no movement was recorded in the region on low demand. Price indications stood at $510-515/t CFR Manila and offers were floated at $525/t CFR.
  
  
• Thailand's imported billet offers from ASEAN high: Imported billet offers from ASEAN region into Thailand were recorded at $525/t CFR.
  
  
• Chinese billet market muted: Chinese billet prices stood at RMB 3,480/t ($477/t) on 28 September, amid ongoing holidays and the market remaining closed.