Global Billet Market Overview

According to Mining News Pro - CIS-The CIS billet export market is yet to gain complete momentum after New Year holidays. This week, billet export assessment from CIS nations, reported stable and are standing at USD 410/MT, FoB Black Sea, identical as last week.

Iran- Iran`s biggest steel exporter-Khouzestan Steel Company has floated tender for export of 150*150mm billet (5 sp grade); 30,000 MT quantity for March shipments. As per sources report to SteelMint, company is eyeing for levels of USD 405/MT, FoB. This week, SteelMint’s assessment for Iranian billet export have inched down slightly by USD 5/MT W-o-W. Current assessment for 150*150mm billet export from Iran stands at USD 400-405/MT, FoB basis.

SE Asia- This week, SE Asia billet import market pose trade silence. SteelMint assessment for billet import offers in SE Asia is at USD 445-450/MT, CFR Thailand, identical as against last week.

Indonesia’s Dexin Steel to start offering billets – As per reports, Dexin Steel Indonesia; a JV between China’s Delong’s subsidiary, Delong Steel Singapore Projects Pte Ltd, Shanghai Decent and PT Indonesia Morowali Industrial Park. As per reports, the company is expected to start steel production from 18 Jan’20 and is likely to offer billets for Philippines

Vietnam-Formosa Ha Tinh Corporation (FHS), Vietnam’s largest steel manufacturer of the country has revealed its billet offers for Feb’20 shipments. The price offered for billet by the company is reported to be USD 428/MT, CIF North and that to for South is reported to be USD 433/MT, CIF, up by USD 8/MT, against last month.

India- Steel Authority of India - a government of India company has floated export tender for prime mild steel non-alloy concast blooms. The tender quantity is reported to be 20,000 MT. The cargo will be shipped from Haldia port. The tender was put up for Prime Mild Steel Non-Alloy Concast billet size 200*280 mm offered from Durgapur Steel plant. SteelMint’s billet export assessment for 150*150mm billet stands at USD 420-425/MT, FoB India.

China- Chinese domestic billet market was settled at RMB 3,330/MT, up RMB 30 against week. The market sentiments in the country were reported strong.

Turkish imported scrap prices remained range-bound. SteelMint`s assessment for US-origin HMS (80:20) stands at around USD 303-304/MT, CFR Turkey, inching down by USD 1-2/MT against Dec-end price levels. On the other hand, assessment from Europe stands at USD 297-298/MT CFR Turkey.