Chinese Domestic Billet Offers Dip by RMB 260/MT (USD 40/MT) W-o-W

Chinese domestic billet manufacturers have been reeling under pressure on account of slack trading activities. 

The price drop this week was accompanied by steep decline of 49.4 (in an index where figures below 50 indicate a contraction in the sector) in the Caixin Markit Purchasing Managers’ Index, which measures activity in China’s smaller and private industrial companies.

Today, billet prices in China’s domestic market are assessed at RMB 2,230/MT (USD 352/MT), down by RMB 260/MT (USD 40/MT) against RMB 2,490/MT (USD 383/MT) in a week.

Chinese billet export offers also fall down

Chinese billet export offers have also fallen in-line with domestic prices. Current offers for Q235 of size 150*150 mm are assessed at USD 260-270/MT, FoB China Main Port.