Posted on 16 Aug 2023
Russian billet has once again resurfaced in the ASEAN region, Kallanish notes. A certain Russian mill was offering 3sp grade billet at competitive prices last week.
Orders for 3sp grade 100mm square billet from the Russian mill were heard in the Philippes last week. One reroller booked 15,000t at $510/t cfr, and then another reroller booked 10,000t at $500/t cfr. The end-October-shipment cargoes are bound for Cagayan port where freight costs are around $15/t higher than to Manila.
One of the two rerollers was also heard to have ordered 20,000t of 3sp grade 130mm billet from the same Russian mill last Friday at $490/t cfr Manila. The cargo was heard to be for October shipment.
The Russian mill’s offer was also circulating in Thailand, Bangkok traders report. Its 3sp grade 100mm billet was offered at $490/t cif. “I heard that the shipment is at the end of October. But Thai buyers have not accepted,” a Bangkok trader says. He heard the offer was in the market last Wednesday.
Trading sources think that while the offer stipulates the cargoes for shipment in end-October, the billet cargoes could be shipped instead in November.
Last Friday, certain traders were offering 5sp grade billet from unspecified ASEAN/China origins at around $515/t cfr Manila.
Source:Kallanish
