Chinese domestic billet offers in a week have moved down by RMB 80/MT (USD 12) and today closed at RMB 2,130/MT (USD 323). Last week, offers in domestic market were assessed at RMB 2,210/MT (USD 335). All prices are including 17% VAT.
Following price correction in China’s local market, Chinese billet export offers have also fallen to USD 325-330/MT, which were in the range of USD 345-350/MT in the starting of the month.
Analyzing the overall month, it is assessed that Chinese billet prices have dipped by RMB 150/MT (USD 23) from RMB 2,280/MT (USD 345) to current level of RMB 2,130/MT (USD 323).
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