ASEAN mills not in hurry to sell semis, awaiting for further strengthening of market

Tuesday, 23 April 2024 11:30:47 (GMT+3)   |   Istanbul
       

Prices for ex-ASEAN billets and slabs have been relatively stable or slightly higher this week, as active rises in China seen over the past few weeks have been taking a temporary pause. Nevertheless, the mood among sellers has remained positive as since they have already started June shipment sales, they have been not in a hurry to push volumes abroad at discounts.

The official offer prices from the major Indonesian mill have been still at $500/mt FOB for 150mm 3SP billet and up to $510/mt FOB for 130 mm material. At least one deals for 150 mm billet has been heard as done at $500/mt FOB last week, inching up from the sales at $490-495/mt FOB mainly for base grades and sizes last week. “I do not see many booking now, traders need to confirm the previous rises in sales to final users,” a trader said.

Also, offer prices for ex-ASEAN slabs have increased to $510-520/mt FOB, up from the previous offers and deals at $500-505/mt FOB. These offers are mainly for the Turkish, Latin American and Asian markets, while for Europe, the offers could be at a higher level, taking into account that Chinese producers have resisted to cut prices for weeks already. A deal for Malaysian slabs has been heard as done at $555/mt CFR to Turkey this week, translating to around $520/mt FOB, excluding freight for a large vessel. Malaysian billets and slabs are more preferred in Turkey as they are duty-free.

Ex-China billet suppliers have been voicing prices at $500-510/mt FOB officially, but mainly based on the latest local market level and expectations. But rebar futures at Shanghai Futures Exchange have lost 0.84 percent today after slight decline by 0.22 percent yesterday.


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