Ex-Russia billet prices rise in latest deals in Asia amid lack of cheaper options

Tuesday, 12 December 2023 16:13:45 (GMT+3)   |   Istanbul
       

Import billet prices in Asia have continued to gradually improve amid the positive situation in China. Russian suppliers have managed to sell at higher prices in the Asian region as well, as there has been a lack of cheaper options for buyers with the limited availability of Iranian supply. 

The latest deals for ex-Far East Russian billet have been reported at $520-525/mt CFR for February-early Marsh shipment, up by $5/mt from the previous offers reported last week and far above a deal at $510/mt CFR done around two weeks ago. Another mill based in Russia’s Far East region is still targeting sales to the Philippines, but has increased the targeted price by $5/mt to $530/mt CFR. 

Since demand for imported billets in Southeast Asia has not improved much lately, the main reason behind the higher ex-Russia prices in Asia has been the lack of cheaper options, in particular, from Iran. “Iranian offers are also limited in the region [similar to January shipment ASEAN offers]. Traders are sold out and mills [from Iran] have less allocation,” an Asian trader said. The latest offers for ex-Iran billet have been at $510-515/mt CFR to Indonesia, but no new offers have been reported this week. 

The SteelOrbis reference price for imported billet in Southeast Asia has remained at last week’s level of $530/mt CFR so far. In the Philippines, a deal for ex-Vietnam IF billet was done at $524/mt CFR late last week, while the previous bookings for EAF/BOF ASEAN billets were reported at $530/mt CFR. The usual difference between IF and EAF/BOF billets in the region is $5-10/mt.


Similar articles

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

05 Nov | Longs and Billet

Global View on Billet: Asian market shows some signs of increases, but weak scrap impact

01 Nov | Longs and Billet

Turkish buyers insist on lower billet prices, successful only for small tonnages

31 Oct | Longs and Billet

Import billet prices in SE Asia up slightly as traders not eager to offer in short positions

31 Oct | Longs and Billet

Ex-Asia billet pricing lacks direction amid tentative optimism in China, rare deals with discounts

30 Oct | Longs and Billet

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

29 Oct | Longs and Billet

ArcelorMittal Kryvyi Rih produces 16 million mt of billets since launch of CCM complex

28 Oct | Steel News

Global View on Billet: Prices fluctuate in limited range, mood among buyers still quite depressed

25 Oct | Longs and Billet

SE Asian billet importers wait for further fall due to negativity in China

24 Oct | Longs and Billet

Turkey's Kardemir cuts local billet offers, import price changes yet to be seen

24 Oct | Longs and Billet