Chinese billet export offers rise post their national week holiday which ended on 7th October. Market participants mention rising coking coal prices a prime reason for increase in export offers, which has gone up to USD 220-230/MT FOB.
Current offers for Chinese 150*150mm Q235 grade billet are assessed at around USD 330/MT FOB China main port, which was hovering at around USD 320-325/MT pre holidays. However buyers are yet to take positions at these levels.
Indian 30,000 MT Billet Tender Expiring on 18th Oct
Indian tender of 30,000 MT billet and bloom by Vizag steel is expiring on 18th Oct 2016 for early December delivery. Last tender by Vizag steel was concluded at USD 335/MT FOB (for 150*150mm) and USD 333/MT FOB (for 90*90mm) in the month of September.
| Particular | Delivery | Grade | Currency | Price | W-o-W | Remarks |
| China Export | FOB China | 150*150mm | USD | 330-332 | 325-330 | Prices increase on expensive coking coal |
| India Export | FOB Vizag | 150*150mm | USD | 330-335 | 330-335 | Last tender by Vizag steel was settled at USD 333-335/MT FOB. Fresh tender expiring on 18th Oct |
| CIS Export | FOB Black Sea | 125*125mm | USD | 315-320 | 315-320 | Billet prices firm on rising scrap prices |
| South East Asia Import | CFR SE Asia | 150*150mm | USD | 335-340 | 335-340 | Limited buying interest from South East Asian buyers as buyers hold sufficient stock |
| Bangladesh Import | CFR Chittagong | 150*150mm | USD | 340-345 | 340-345 | Prices remain range bound in the range of USD 340-345/MT CFR Chittagong. Buyers prefer scrap due to high differential duty on imported billets. |
| Middle East Import | CFR Dubai | 150*150mm | USD | 340-350 | 340-350 | Prices stable on low trade activities. |
| Turkey Import | CFR Turkey | 125*125mm | USD | 330-335 | 330-335 | Turkish steel mills prefer scrap over billet |
| India Domestic | Ex-Mumbai | 100*100mm | INR | 22,900 | 23,800 | Seasonal slowdown |
| China Domestic | Ex-Tanshang | 150*150mm | RMB | 2,200 | 2,130 | Prices increase on expensive coking coal |
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