Alike yesterday, Chinese billet market today also registering a rise of RMB 70/MT (USD 11) to RMB 2,060/MT (USD 317). Yesterday, market was closed at RMB 1,990/MT (USD 306). Prices are including 17% VAT.
The current level of RMB 2,060/MT was last seen on 5 Apr’16.
Billet prices have been showing downward movement since last 15 days owing to lack of buyers in China’s domestic market. However, since a couple of days, market reported positive sentiments amid better trades taking place in the nation.
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