Indian billet exporters have been inactive since last few weeks owing to Diwali festival. Last bulk deal from India by a private large manufacturer was settled at around USD 500/MT FOB for 130mm 5SP grade in first week of October.
Indian billet exports are likely to cross 2 MnT in 2017, according to SteelMint Research. India has exported about 1.8 MnT of billet in first 9 months of 2017. Nepal being the largest importer of Indian billet with 45% share.
Global billet
1. Chinese billet export offers were heard at around USD 505-510/MT FOB China, but no deal was reported. Chinese billet prices are unlikely to fall sharply owing to upcoming production cuts as major steel making regions.
2. CIS region billet offers were assessed at around USD 485-490/MT FOB.
3. Indian 150mm billet sold at USD 470-475/MT FOB, cargo likely to be shipped to SriLanka. Vessel freight is around USD18-20/MT
4. Vietnam billet export offers at USD 520/MT FOB,which is not viable
5. An Indian billet of size 125mm is being offered at around USD 505-507/MT CFR Manila
6. Thailand’s Chow Steel IF grade billet heard sold at USD 495-497/MT CFR Manila
7. Korean Daehan Steel sold 130mm 55p grade billet at USD 515/MT CFR Manila two weeks ago. Now offering at USD 510/MT CFR Manila but no response.
8. Iranian billet export offers fall on lesser buying interest. According to market participants KSC’s tender did not receive bids as per the expectation.
Source Steel Mint powered by Keyvan Jafari Tehrani (JTC)