A government of India company was reported to book 50,000 MT billets to China recently. The booking was made in two lots, of 30,000 MT and 20,000 MT. The deal value was noted to be between USD 355-360/MT, FoB India.
Even before last week, the company had booked two billet lots of sizes 125*125mm & 150*150mm, and each lot was of approximately 20,000 MT in quantity, i.e. 40,000 MT (approx.) in total. The deal values for these lots were noted to be USD 350/MT, FoB, and USD 355/MT, FoB, respectively.
Meanwhile, the billet import offers in China are hovering between USD 370-375/MT, CFR. The country is continuously importing the billets from the billet export majors; India, CIS nations, & Iran and thus keeping the global billet market active.
Chinese domestic billet (150*150mm) prices are currently assessed at RMB 3,090/MT ex-Tangshan, inclusive of VAT.
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