Chinese billet export offers remain volatile this week owing to fluctuations in domestic market. Current export offers for Q235 150*150mm billet are assessed at USD 310-315/MT FOB China main port. Domestic prices for the same grade billet are assessed at RMB 1,870/MT (USD 288) ex-Tanshang, including VAT of 17%.
Global billet offers in week 22
| Particular | Delivery | Grade (mm) | Currency | Price | W-o-W | M-o-M | Remarks |
| China Export | FOB China | 150*150 | USD | 310-315 | -5 | -75 | Chinese offers remain volatile on falling prices in domestic market. |
| India Export | FOB Vizag | 150*150 | USD | 370-380 | -5 | +7.5 | Indian recent billet/bloom tender failed to receive response. Last deals were reported at USD 385/MT FoB, but falling global prices kept buying interest weak. |
| CIS Export | FOB Black Sea | 125*125 | USD | 350-370 | -20 | -40 | Russian and Ukrainian steel makers offers square billet at USD 350-370/MT FoB Black Sea. Prices drop on account on fall in Chinese prices. |
| South East Asia Import | CFR SE Asia | 150*150 | USD | 320-330 | – | – | – |
| Bangladesh Import | CFR Chittagong | 150*150 | USD | 330-340 | -40 | -45 | Buyers wait for government’s decision to increase import duty on billet in upcoming budget (June 2016). |
| Middle East Import | CFR Dubai | 150*150 | USD | 330-340 | -40 | -55 | Buyers wait for further fall in prices. |
| Turkey Import | CFR Turkey | 125*125 | USD | 360-370 | -30 | -38 | Chinese offers remain competitive as compared to CIS regions. Lower billet offers will put pressure on scrap prices. |
| India Domestic | Ex-Mumbai | 100*100 | INR | 23,200 | +350 | -1,300 | Limited trade activities took place in billet market. |
| China Domestic | Ex-Tanshang | 150*150 | RMB | 1,870 | -110 | -610 | Slowing demand in China’s domestic market hit Chinese billet offers. |
Prices in Currency/MT
Source: SteelMint Research
Leave a Reply