Chinese buying interest for billets has continued to remain strong on news of steel production cuts. According to market sources, recent deals of billets from Indonesia and Japan were concluded at $695-705/t CFR China, for Aug’21 shipment. Chinese rebar futures for Oct contract rose by around RMB 122/t ($20) d-o-d to close at RMB 5,580/t ($ 862/t).
Leave a Reply