[vc_row][vc_column][vc_column_text]Thai billet imports fall
Thailand’s imports of billet fell sharply in the first two months of the year. The reduced import volume is linked to high import prices.
Thailand imported 70,421 tonnes of billet during January-February, according to the Iron & Steel Institute of Thailand. This was a drop of 60.6% compared to 178,953t of imports during the corresponding period in 2021.
Imports during the month of February amounted to 31,750t, compared to the 169,168t in February 2021. Billet from main supplier Oman fell to 33,573t during January-February 2022, compared to 135,176t during the same period of last year. Trading sources believe most billet imports from Oman actually originate in Iran, Kallanish notes.
“Demand is weak,” a Thai trader says. Thai buyers cannot
catch up with international prices, he adds. The average price for February billet imports was $653/tonne compared to $512/t in February 2021.The average price for January-February imports was $659/t compared to $508/t a year earlier.
Thai mills turned to more lucrative regional export markets last month. Thai induction furnace billet sales were active in regional markets including the Philippines. This is similar to an outflow of Thai billet last year. Thai billet export shipments were significantly higher last August-October, according to customs data.
Meanwhile, there is market chatter of a Chinese trader sealing an export purchase of 40,000t of 150mm 4sp blast furnace billet from Vietnam at $772/t fob China. A Vietnamese trader reports hearing the cargo is for end-June shipment. “I hear they [the supplier] will ship the cargo to South Korea,” a Chinese trader says.
The heard concluded price is lower than the Vietnamese mill’s target price last week of $780/t fob. “The Chinese market is weaker at the beginning of the week,” a Vietnamese market source says. But he hears the Chinese trader has not yet confirmed the deal.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_btn title=”About LMM GROUP” link=”url:https%3A%2F%2Fwww.lmmgroupcn.com%2Fabout-lmm%2F|target:_blank”][vc_column_text css=”.vc_custom_1649296177864{margin-top: 50px !important;}”]friendship Link：
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