Chinese billet manufacturers have again surged their offers today by RMB 60/MT (USD 9/MT) to the level of RMB 2,640/MT (USD 406/MT) in contrast to yesterday’s offer at RMB 2,560/MT (USD 397/MT). All prices are including 17% VAT.
The current offers have hit 20-month high level , which was last reported on 22 Aug’14.
Lack of inventory levels with mill operators and pick up in seasonal demand have been continuously increasing billet prices in nation’s local market since the starting of this month.
In the meantime, Chinese export offers are heard in the range of USD 385-398/MT, FoB China; have upsurged by USD 60/MT just in a week. Chinese billet export offers continue to rise owing to increasing prices in domestic market.
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