Billet prices in Chinese domestic market have been reported to be highly volatile in this month. Today, market registered a price corrections of RMB 60/MT (USD 9) to RMB 1,870/MT (USD 288) against RMB 1,930/MT (USD 297) on 21 May’16. Prices are including 17% VAT.
Slowdown in Chinese buying activities are seems to be prime factor of price corrections. Current level of RMB 1,870/MT was last seen on 12 Mar’16.
In the meantime, Chinese billet export offers were assessed at USD 310-320/MT; have fallen by USD 5/MT in a week.
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