Chinese billet export offers remain stable this week, however buying interest continued to remain low.
Export offers for 150*150mm Q235 billet are assessed at USD 400/MT FOB China main port, which is equivalent to USD 410-415/MT CFR South East Asia.
Market participants mention that buying interest is at USD 400/MT CFR South East Asia.
India: No firm offers were heard from Indian sellers for bulk cargo. As Indian currency is appreciating and falling global prices has dented billet exports from India in the month of April. No bulk deals were reported in the month of April 2017, apart from small deals was sold to Nepal.
Notably Indian billet exports rose 100% in FY17 owing to increased availability and better realizations.
Current domestic and global billet offers
| Particular | Delivery | Size (mm) | Currency | Price | W-o-W | M-o-M | Remarks |
| China Export | FoB China | 150*150 | USD | 400-405 | -18 | -18 | Limited trade activities at these levels; market expect prices may come down |
| India Export | FoB Vizag | 150*150 | USD | 390-400 | 0 | -10 | No bulk deals reported in last few weeks, although buyers expectation is not less than 410-415/MT FOB |
| CIS Export | F0B Black Sea | 125*125 | USD | 330-335 | – | – | Offers moved up on rising scrap prices in Turkey; unlikley to move up further |
| South East Asia Import | CFR SE Asia | 150*150 | USD | 400-410 | – | – | Trade activities remain low, buyers expect prices may fall |
| Bangladesh Import | CFR Chittagong | 150*150 | USD | 405 | + 5 | – 15 | Bangladesh based buyers remain out of market owing to higher import duty |
| Middle East Import | CFR Dubai | 150*150 | USD | 390-400 | – 5 | – 20 | Lower offers from Iran |
| Turkey Import | CFR Turkey | 125*125 | USD | 395 | 0 | – 8 | Prices stable on higher scrap deals and limited trade activities from China |
| India Domestic | Ex-Mumbai (excld excise & taxes) |
100*100 | INR | 27,200 | – 200 | – 3,300 | Prices fall sharply on low demand and falling exports from India |
| China Domestic | Ex-Tanshang (incld 17% VAT) |
150*150 | RMB | 3,040 | – 10 | – 60 |
Prices in Currency per MT
Source: SteelMint Research
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