Private Indian steel mills are reportedly offering 150*150mm steel billets at around $700-705/t, CFR levels, for China-equivalent to $615/t FoB India, which is higher by $5-10/t as against the end of last week, as per SteelMint reports. Prices are rising are a result of improved demand from China as well as the upward trajectory of Chinese steel futures as observed during the last few trading sessions. SteelMint’s bi-weekly assessment for Indian billets (150*150mm, BF-route, FoB east coast) stood at $600/t on 9 Jul, up by around $20/t against the previous assessment on 6 Jul.
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