Today, billet prices in Chinese domestic market again slipped by RMB 70/MT (USD 10/MT) against the last day closing and hit five month low.
Current offers are heard at RMB 2,750/MT (USD 400/MT), which were RMB 2,820/MT (USD 410/MT) on 17 Apr’17, Ex-Tanshang, including VAT of 17%.
Prices are falling on bearish sentiments and weak steel futures. Prices have corrected almost RMB 570 (USD 83/MT) in last month.
Export offers fall in line with domestic prices, which currently stand at USD 385-390/MT FOB China main port.
Leave a Reply