Today, Chinese billet prices in domestic market have upsurged by RMB 90/MT (USD 14/MT) to RMB 2,170/MT (USD 334/MT) against last day closing on 8 Apr’16 at RMB 2,080/MT (USD 320/MT). All prices are 17% VAT included.
Lack of billet inventory levels with finished steel manufacturers coupled with peak construction activity season has supported billet prices in local market.
Rise in domestic prices will make manufacturers raise their export offers as well. Current offers for billet Q275 from China are assessed at USD 320-325/MT, FoB China Main Port.
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