Import billet buyers in Indonesia and Thailand have become more active in searching for ex-Iran purchases and, though there have been no confirmed bookings so far, they are expected in the near future. Bids have fallen again.
Prevailing offers for ex-Iran billets from traders have been coming to Thailand and Indonesia at $510-520/mt CFR for November shipment, similar to last week. But bids have declined again. “Some customers are ready to pay $500-505/mt CFR if any traders want to sell at this price,” a source from Bangkok said. Another trader has confirmed a firm bid from a customer in Thailand at $500/mt CFR on October 5.
“Some deals may happen soon [in Indonesia] as Iran remains the most competitive, though maybe not in big quantities,” a source from Jakarta said.
At the same time, taking into account the latest export deals done by mills at $460-463/mt FOB, traders may provide very small discounts from $510/mt CFR if any.
The SteelOrbis weekly price for ex-Iran billet in Southeast Asia has remained stable from last week at $510-515/mt CFR until new deals are disclosed.
