Weekly: Global Billet Market Overview
CIS billet export offers drops marginally by USD 5-10/MT amid disparity between bids and offers and fallen Turkey’s imported scrap prices have support the event. This week, billet export assessment from CIS nations are at USD 385-390/MT, FOB Black Sea.
Iran
Khouzestan Steel Company (KSC) - one of the leading exporters of Iran has concluded a billet export deal via tender, in recent. The deal quantity is of 30,000 MT for size 150*150 mm, 3sp grade for Mar’20 shipment. The deal value was reported to be around USD 385/MT, FoB Iran, as per sources. Destination of the cargo booked could not be confirmed as material was heard to have booked by traders.
But current SteelMint’s billet export assessment has come down further and stands at USD 380-385/MT, FOB Iran amid escalated political tensions with U.S. supported by New Year holidays in China. SteelMint's assessment for Iran billet export has come down by around USD 10/MT W-o-W and USD 20-25/MT M-o-M.
SE Asia
SE Asia billet import market was reported sluggish this week amid ongoing Tet holidays in Vietnam and falling global scrap prices supported by respiratory virus; Corona. SteelMint assessment for SE Asia billet imports has fallen sharply and is standing USD 415-420/MT, CFR, down USD 15-20/MT against last week.
China
This week, amid holidays and Corona virus,no billet offers were heard from the Chinese domestic billet market.
SteelMint’s assessment for HMS 1&2 (80:20) from USA origin stands at USD 272/MT CFR Turkey, down by over USD 10/MT against last week, while the assessment from Europe stands at USD 267/MT CFR.
Global Billet prices:
Assessment | Currency | Prices | W-o-W |
150*150mm, FOB India | USD | 410-420 | -5 |
130*130mm, FOB Iran | USD | 380-385 | -17 |
125*125mm, FOB Black Sea | USD | 385-390 | -5 |
Indian induction grade billet, CNF Nepal | USD | 435-440 | -9 |
Source: SteelMint Research
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