SE Asia: Imported billet prices remain stable on weak market sentiments

Southeast Asia's imported billet market was firm in this week. Billet suppliers of the region were aggressive in the beginning of the week on rising production cost but no active tender has been floated in the region, SteelMint noted. Price indications have remained range-bound at $510-515/tonnes (t) CFR Manila.

However, Turkiye's imported scrap prices inched down this week. According to SteelMint's latest assessment, HMS 1&2 (80:20) prices from the US stood at $375/t CFR Turkiye.

Chinese billet prices have shown a downward movement throughout the week. Prices decreased by RMB 40/t ($5/t) w-o-w to RMB 3,530/t ($483/t) on 22 September, 2023.

Market highlights

• Vietnam's billet export offers remain stable w-o-w: Vietnam's BF-grade billet export offers stood at $495/t FOB, stable w-o-w.
  
  
• Thailand's imported billet prices range-bound w-o-w: Imported billet prices into Thailand remained rangebound w-o-w at $505-510/t CFR.
  
  
• Iranian billet export prices firm w-o-w: Iran's steel billet export market is silent as producers seem to be in a wait-and-watch mode. Tender trade in the market is absent due to bid-offer disparities as producers are targeting higher bids. SteelMint's latest assessment of Iran's billet (3SP) export prices remained stable w-o-w at $473/t FOB on 22 September, 2023. Iran's leading steel mill, KSC, has floated a tender for slab exports, however, it is yet to be concluded.