After a number of sales made by the major Indonesian steel producer Dexin Steel to traders for November, these materials have been offered or traded in different markets globally.
As SteelOrbis reported earlier, one deal was done at $515/mt FOB, while some additional tonnages have been traded at $520-525/mt FOB, but the sales destination for these materials would be Latin America, according to some sources, or other distant markets.
Also, earlier in October, a contract for 40,000 mt of ex-Dexin billets for shipment by the end of November was signed to Saudi Arabia at $560/mt CFR.
In Turkey, which has recently become a relatively regular buyer of non-Russian billets, there has been talk about a deal for around 50,000 mt of ex-Indonesia material at $560/mt CFR for November shipment. However, while the alleged buyer refuses to comment on the deal, some market sources believe it may be a relatively old transaction. “Maybe 10 days ago, there was a deal at a similar price, but for 30,000 mt,” a trader said. Some of the Turkish mills find Asian and MENA origin billet attractive despite the longer lead time. Moreover, currently ex-Russia billet offers are higher-priced as the latest deals for prompt shipment were closed at $590-597/mt CFR, although $580/mt CFR levels are also still available in the market.
In the regional market in Southeast Asia, prices for ex-ASEAN billet have been relatively stable, at around $535/mt CFR from traders and at up to $540-550/mt CFR from mills.
