Chinese domestic billet offers have upsurged by RMB 160/MT (USD 25) from RMB 1,820/MT (USD 280) to RMB 1,980/MT (USD 305) in the month of Jun’16. However, throughout the month, prices have been almost steady in China’s market. All prices are including 17% VAT.
Boost up in Shanghai steel future by over 5%on Monday, touching a seven-week high, has supported the Chinese steelmakers to raise their offers. Rise in steel future was propped up by China’s efforts to consolidate the sector to improve efficiency amid global calls for Beijing to cut its excess capacity.
Chinese billet export offers stable during Jun’16
It seems that Chinese billet export offers for 150*150 mm, Q235 remained at USD 305/MT, FoB China; reporting no price change throughout the month. While in a week, offers have went up by USD 13/MT.
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