Chinese Billet Export Offers Fall by USD 5-10/MT W-o-W

Chinese billet export offers correct by USD 5-10/MT this week on subdued buying interest and falling prices in domestic market.

Current offers for 150*150mm Q235 billets are assessed at USD 300-305/MT FOB, which was offered at USD 305-310/MT FOB China main port last week.

Sources mentioned that trade activities remain low amid volatility in futures prices. Domestic offers for same grade are at RMB 2010/MT (USD 302)  which was 2050/MT (USD 310) last week (Ex-Tanshang prices, incld VAT of 17%).

Indian Billet Export Tender

Indian billet export tender, which expired on 18^th July, is yet to be finalized. Highest bid received was at USD 305/MT FOB Vizag port, and it is still under negotiation.

Global billet prices (in USD/MT) as on week 30 ( 18 Jul – 24 Jul’16)