Hyundai Steel offers 20,000 tonnes of billet for end-July loading

Hyundai Steel is offering 20,000 tonnes of billet for end-July loading in an export tender this week.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

The South Korean steel producer last sold a billet cargo some three weeks ago to a trader at $523.50 per tonne fob. But prices have since shifted lower due to weak demand.

Fellow steelmaker Korea Steel Shapes Co (Kosco) was heard to have sold a cargo of the semi-finished product to a South Africa-based trader recently at about $510 per tonne fob. This sets the tone for the kind of price level that Hyundai Steel will likely get for its cargo.

The tender closes on Monday June 10.

What to read next
On Friday November 8, 2024, Fastmarkets published MB-STE-0232 Steel scrap No1 busheling, consumer buying price, delivered mill Chicago, $/gross ton.
Fastmarkets advises that, as of Friday November 8, certain monthly North American ferrous scrap assessments had yet to be settled.
Ahead of COP29, the UN Secretary-General's Panel on Critical Energy Transition Minerals (CETM) recommended a global traceability system, which experts told Fastmarkets will need to overcome challenges around data security, enforceability and stakeholder buy-in to be successful.
Aluminium market participants in the US anticipate stable business supported by continued tariffs and potential interest rate cuts, while industry sources in Europe and Latin America are watchful of potential new trade restrictions.
Donald Trump’s second term as US president is not likely to have too much of an impact on China’s electric vehicle (EV) and new energy markets, despite broader concerns over potential tariff hikes which might bring challenges to both China and the US, sources told Fastmarkets on Thursday November 7.
Chinese authorities officially announced that they will be expanding the range of permitted recycled copper and aluminium imports from mid-November, but market participants Fastmarkets spoke to at a conference this week are not convinced that this will mean more material will be imported into the country in the short run.