Posted on 16 Jul 2021
ASEAN mills have raised their billet offer prices after achieving higher prices to China in recent days. They are seeking hikes of around $15-20/tonne, Kallanish estimates.
An Indonesian mill is offering 150mm 3sp blast furnace billet at $720-725/t cfr China after closing a deal on 14 July at $705/t cfr China. A Vietnamese mill’s offer for a 10,000-tonne cargo of similar grade and size blast furnace billet for shipment readiness around mid-August is at $695/t fob or $720-725/t cfr China. The Vietnamese mill also sold a 20,000t cargo on 14 July at $705-710/t cfr China. Russian-origin billet for September shipment was sold this week at $705-710/t cfr China.
A 30,000t cargo for Indian billet recently closed at $703-705 cfr in the last two days, up from $700/t cfr early this week. Despite the steady price uptick for Chinese purchases, some Chinese trading sources think that import prices may peak soon. “The markets in the EU and India are slowing down,” a Chinese trader says. ASEAN billet was ordered at $680/t cfr around ten days ago.
Source:Kallanish
