Posted on 04 Apr 2022
The Southeast Asian import market for billet has softened, Kallanish notes. Offer prices have slipped or stopped rising in the past week. The market has softened slightly, as finished steel is not pushing up further, a regional trader says.
In Manila, a 6,000t parcel of Vietnamese EAF 130mm billet for May shipment was heard sold on 31 March at around $815/t cfr. Offers for blast furnace 150mm billet from Malaysia and Indonesia are prevailing at $820-830/t cfr, compared to $830/t cfr a week ago. Earlier in the week, 120/130mm EAF billet from Japan was offered at $850/t cfr Manila.
Russian 125mm billet is offered at $780/t cfr, a Manila importer says. But a regional trader hears billet offers from two Russian mills during the week at $790-795/t cfr Manila. Kallanish maintained 5sp/ps or Q275 120/125/130mm square billet on Friday at $810-820/t cfr Manila.
Induction furnace 130mm 5sp billet from Vietnam and Thailand are offered at $780/t cfr Manila, slightly lower than $785/t cfr a week before. A cargo of Thai billet for early-May shipment was heard booked at $780/t cfr around 29 March. A Manila trader thinks that this is a “fair price.” While this is higher than the $765/t cfr bookings in mid-March, scrap has firmed since then, he says. He believes that the market has softened because customers are resisting higher prices.
An Indonesian mill’s blast furnace 150mm billet is prevailing at $800/t cfr Jakarta for 3sp grade and $815/t cfr for 5sp grade. The Ramadan fasting month is exacerbating an already weak market, an Indonesian reroller says. In Thailand, 3sp billet from the same Indonesian mill is offered at $820/t cif Ko Sichang and Iranian-origin 150mm billet at $785/t cif. Both offers are not attracting takers, Thai traders say.
Source:Kallanish
