Chinese billet offers to Bangladesh based re-rolling mills remain same this week. However, buying remains weak owing to Eid holidays in the country, which got over last week.
Current offers for commercial quality billet of size 150*150 mm are offered at USD 290/MT CFR Chittagong for November shipment.
“Billet offers are at USD 290/MT CFR Chittagong; however, re-rollers are speculating that prices may fall further by USD 5-10/MT”, said a re-roller based in Chittagong.
Offers from CIS countries are in the range of USD 315-320/MT CFR Chittagong, but people are more inclined towards Chinese material due to cost factor, he further added.
Bangladesh imports around 1.5-2 MnT of billet every year.
Prices as on 1 Oct’15
| Delivery | Offers |
| FOB China | USD 270/MT |
| FOB India | USD 320/MT |
| FOB Black Sea | USD 285/MT |
| CFR Bangladesh | USD 290/MT |
| CFR Turkey | USD 300/MT |
| CFR Middle East | USD 300/MT |
| CFR South East Asia | USD 285-290/MT |
| CFR India | USD 290/MT |
| Ex- Mumbai, India | INR 23,400/MT |
| Ex- Tanshang, China | RMB 1,500/MT |
Source: SteelMint Research
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