Chinese billet export offers have increased this week owing to consistently rising iron ore prices. SteelMint assessed offers for 150*150 mm Q235 Billet at around USD 390/MT FOB China main port, against last offers of USD 380/MT FOB China.
Chinese mills prefer high grade iron ore due to higher coking coal prices and by which spot iron ore prices in China have increased by 10% in last one week.
Although market participants mention that no export deals have been reported at these levels (USD 390/MT). But if Chinese domestic billet prices sustain for some more time, global billet prices are bound to rise.
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