Chinese billet offers in domestic market were at RMB 1,850/MT (USD 282), have remained unchanged during this week.
China billet export offers remains stable at USD 300/MT FoB main port. According to custom statistics, China exported 9.42 million tons of steel in May’16, up 2.34 percent or 0.22 million tons year on year; up 0.34 million tons from April’16 shipments. Imports in May were 1.09 million tons, up 40,000 tons or 3.5 percent year on year.
China billet offer herd to UAE at USD 325-330/MT CFR .
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