Mining News Pro - After remaining silent for couple of weeks, trade activities resumed this week with positive correction in offers from/in all the billet trading nations amid increased global scrap prices.
According to Mining News Pro - Imported scrap prices to Turkey have successively moved up by another USD 15/MT on a weekly basis. With mills now actively procuring for March shipment, the market is expected to remain strong in the coming days.
CIS-CIS billet export offers witness an increase of USD 5-10/MT amid rising global scrap prices. This week, billet export assessment from CIS nations are at USD 385-390/MT, FoB Black Sea.
Iran- One of Iran’s leading billet exporter of the country; KSC, has recently floated a billet export tender for billet and slab of quantity 30,000 MT each. The billet shipment is scheduled for end Mar’20 while for slab it is scheduled for end Apr’20. Company is eyeing for the price levels of USD 382/MT, FoB Iran for billet and USD 385/MT, FoB Iran for slab. SteelMint assessment for billet export offers from Iran is at USD 375-380/MT, FoB Iran, identical as last week.
India- Indian billet export market remained subdued in terms of trades. Steel Authority of India - a government of India company has floated export tender for prime mild steel non alloy concast billets. The tender quantity is reported to be 18,900 MT. The cargo will be shipped from Haldia port. The tender put up is for 150*150mm size and 4 SP/5 SP grade, offered from IISCO Steel plant. The tender due date is 18 Feb’20.
Another Indian billet export tender for quantity 30,000 MT bloom (150*150mm, 4SP grade) which expired on 07 Feb’20 was heard to have fetched highest bid at USD 390/MT. The bid validity of the tender was 14 Feb’20.
SE Asia- This week SE Asia billet import market reported with stable sentiments. Increasing global scrap prices have managed to keep billet import sentiments supported in the region. Trade sources reported, billet import offers to Thailand from Middle East is heard at around USD 420/MT, CFR. As per reports, Iran has reported to book 20,000 MT billets to Thailand at USD 415-420/MT, CFR Thailand. The shipment is scheduled for Mar’20.SteelMint assessment for SE Asia billet import at USD 410-420/MT, CFR, identical as against last week.
Vietnam- The billet export offers from the county for 5 SP grade are heard at USD 410-415/MT FoB, down by USD 5-10/MT W-o-W.
Formosa Ha Tinh Corporation (FHS), Vietnam’s largest steel manufacturer of the country has revealed its billet offers yesterday for Apr’20 shipments. The price offered for billet by the company is reported to be USD 418/MT, CIF North and that to for South is reported to be USD 423/MT, CIF, down by USD 10/MT, against last month.
China - China is still finding hard to regain the momentum out of the corona virus outbreak. The billet trades have got locked up in the country. And now the maintenance shutdown of few mills in the steel nerve center of the country; Tangshan, has backed the trade locking event. Current assessment of domestic billet stands at RMB 3300/MT including VAT.
As of now, 26 blast furnaces out of 120 of the 32 steel mills in Tangshan have been shut down, affecting to around 71,000 MT hot iron output per day, accounting for 18.1% of total daily hot iron capacity in the city. Among them, 13 BFs are under maintenance on account of heating season, affecting 36,500 MT hot iron output daily while remaining 13 BFs are under maintenance because of pandemic; corona virus outbreak, affecting 35,200 MT daily hot iron output.
SteelMint assessment for the USA origin scrap HMS 1&2 (80:20) stands at around USD 275/MT CFR Turkey, increasing by USD 15/MT against price level reported last week closing. Assessment from European origin stands at around USD 270/MT, CFR Turkey.
Global Billet prices:
