Posted on 20 Mar 2025
Two Saudi Arabian buyers have booked a combined 90,000 tonnes of minimum 0.55% manganese content billet from an Indonesia supplier at $470-474/tonne cfr (liner out) Saudi west coast ports, scheduled for May shipment.
The booking was made mid-last week before prices trended up, with Jeddah and King Abdullah Port designated as the discharge ports, Kallanish understands from market sources.
Additionally, there is a pending enquiry for 50,000t of 150mm 0.6% manganese content billet, with prices from China as of Wednesday hovering at around $471-472/t cfr King Fahd port (LO) for May loading.
An offer from the Indonesian supplier was heard at $490/t cfr (LO), significantly above the buyer's target price of $465-470/t cfr (LO). This enquiry is expected to translate into a deal before the Eid holiday starts on 30 March.
The local billet market is very quiet, with prices at SAR 1,980-2,000/tonne ($528-533) ex-works in Dammam for prompt shipment and SAR 2,010-2,020/t ex-works in the central region for gradual delivery.
"Market activity is very slow in the rebar and billet segments as most industry participants are postponing their buying decisions till after the Eid Al Fitr holiday," comments a billet producer.
Source:Kallanish
