In just last 15 days, MS billet offers in Chinese domestic market have registered a slump of RMB 590/MT (USD 91). Currently, Q235 sized billet in Tangshan is available at RMB 1,900/MT (USD 292), which was RMB 2,490/MT (USD 383) on 1 May’16. All prices are including 17% VAT.
Sources reported that price corrections by few giant Chinese steelmakers and lack of buyers are the reasons behind fall in Chinese billet prices.
In present scenario, it seems that current billet offers are hovering within 2-month earlier prices. The current level of RMB 1,900/MT was last seen on 11 Mar’16.
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