SE Asia: Imported billet offers rise further, limited trades reported

SE Asian imported billet market broadly remained silent on sluggish demand triggered by the second COVID wave. Owing to this the Philippines has imposed a lockdown till 16 Apr '21. However, an Indian cargo (65*65mm) was heard having been sold in the region recently. On the other hand, sizeable billet cargoes were reported having sold to China from Indonesia and Malaysia early this week.

Deals and offers-

CIS: After a Russian mill sold around 22,000 t billets to China at $640/t, CFR, the offers from the far Eastern port of Russia rose to $660-670/t, CFR for China and the Philippines. However, we witnessed no deals at the increased offers. On the other hand, Black Sea offers are hovering at $570-580/t, FoB amid sluggish Turkish demand.

India: The Indian billet export prices surged to an eight-year high level in a recently concluded billet export tender. The mill achieved a price level of $591-595/t, FoB India. The tenders floated were for 60,000 t blooms (150*150mm, 3SP/4SP grade) and 10,000 t billets (65*65mm, IS2830 Gr. A), May '21 shipments. SteelMint's bi-weekly assessment for Indian billets (150*150mm, BF route, FoB East coast) is currently at $590-595/t, up by $30-35 w-o-w.

Iran: Iranian billet export prices hit an all-time high level to reach $570-571/t, FoB, in a recently concluded deal for China. According to SteelMint sources, the mill sold 30,000 t billets at $570/t, FoB for May '21 shipments. SteelMint's bi-weekly assessment for Iranian billets is currently at $570/t, up by $5-10/t w-o-w.

Vietnam: The BF route billet export offers from Vietnam surged by $20 w-o-w to reach $635/t, FoB levels.

Thailand: Imported billet prices in Thailand are in the range of $640-645/t, CFR, up by $20-25 w-o-w.

SteelMint's assessment for billet imports in SE Asia is $635-640/t CFR, up by $10-15 w-o-w.

A few recent billet import deals heard for China-