Billet offers in SE Asia limited, fall of around $5-10/mt expected from next week

Thursday, 15 February 2024 17:39:53 (GMT+3)   |   Istanbul
       

Offers for imported billet in the Southeast Asian market have been limited this week due to the holidays in China and the absence of firm offers from ASEAN region-based mills so far. However, a large number of local mills and traders believe that next week will bring a price decline of about $5-10/mt.

Offers from international traders for open origin 5SP BF billet have been reported at $545/mt CFR Manila this week, but “no one is bidding now,” a local source said, adding that $535/mt CFR will be “a good starting point for offers next week.” There have been no reports about new offers for IF billet, but a few buyers said that the tradable level should not be above the deal prices seen in January. “$525/mt CFR is a reasonable level”, a Manila-based importer said. This price is $5-10/mt below what was seen in negotiations before the holidays.

A trader has offered ex-Indonesia BF billet from a position at $540/mt CFR in the local market, with no response since the market was halted on Wednesday due to elections. The indicative level for ex-Iran billet has been assessed at $530-535/mt CFR in Southeast Asia, taking into account the last sales from mills on FOB basis. But this price will hardly work in the Asian region.

Also, despite some activity for Indian billet exports, offers of this origin to Southeast Asia are still limited. “For Indian IF billet sales, I don't think the destination is Southeast Asia. I think it'll be Sri Lanka or East Africa,” an Asian trader said.

The SteelOrbis reference price for imported billet in Southeast Asia has remained at $530-540/mt CFR for now.

 


Similar articles

Turkish merchant bar export prices stable

08 Nov | Longs and Billet

Local Indian rebar prices under pressure amid sluggish post-holiday trade

05 Nov | Longs and Billet

Indian local rebar and billet markets remain sluggish, prices down $6-20/mt weekly

29 Oct | Longs and Billet

Numerous import billet offers in Turkey, but yet to attract much interest from buyers

23 Oct | Longs and Billet

Local Indian rebar and billet prices lose ground amid weaker demand

22 Oct | Longs and Billet

Local Indian rebar prices roll back in some regions, but positive mood still persists

15 Oct | Longs and Billet

Major Asian billet exporters start to target $500/mt FOB, firm offers very limited

08 Oct | Longs and Billet

Chinese domestic steel section prices surge sharply

30 Sep | Longs and Billet

Oct.1 dockworker strike to affect containerized imports, finished steel products, steel experts say

28 Sep | Steel News

Iran floats several export tenders for semi-finished products

18 Sep | Longs and Billet