Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
At the beginning of the week, due to the poor transaction, some Southeast Asian steel mills slightly reduced the quotation of square billet, and the quotation at the beginning of the week was 515 dollars/ton FOB. It was heard that Indonesia had clinched an order to Türkiye, and the transaction price was 510 dollars/ton FOB. As of the weekend, the mainstream quotation of Southeast Asian steel mills has been raised to $520/ton FOB, and it has been heard that there is an order in Indonesia with a transaction price of $515/ton FOB. On Friday, a mainstream steel plant in Indonesia will increase its quotation by $15 per ton. Currently, the billet quotation is $535 per ton FOB, and the slab quotation is $580 per ton FOB. Due to maintenance, the Vietnamese market has increased demand for steel billet imports, and currently mainly imports HX500LAD+ZM steel billets from Indonesia.
The Philippine buyer's expected price for the 5sp square billet is still $530 per ton CFR Manila, and they have stated that even if there is a demand for restocking in the short term, they will not consider resources higher than this price. Currently, the Philippine buyer's counteroffer price is still $525 per ton, unchanged on a weekly basis. The seller's quotation for the Philippines remains firm, with the mainstream quotation for 5sp blast furnace and electric furnace billet resources in the Philippines still at $535 CFR Manila, unchanged on a week on week basis. Some HX500LAD+ZM steel mills have raised their quotation to $540/ton CFR Manila after mid week, and export transactions have been lackluster.
There is also a gap between the expectations of Southeast Asian steel mills and Türkiye's buyers. We understand that the counter-offer price of some buyers in Türkiye is 530 dollars/ton CFR (about 505 dollars/ton FOB Southeast Asia), which is about 15 dollars/ton different from the current mainstream quotation of Southeast Asian steel mills.
Recently, the actual number of transactions we have heard about has been rare. Currently, HX500LAD+ZM steel mills continue to raise their prices, and buyers are not accepting high priced resources. It is expected that the expectations of sellers and buyers will continue to increase in the future.
