Chinese domestic manufacturers have raised their offers by RMB 120/MT (USD 18/MT) to RMB 2,360/MT (USD 363/MT) from RMB 2,240/MT (USD 345/MT) in just last 2 days. All prices are including VAT of 17%.
Low inventory available with mill operators and surge up in seasonal demand in local market amid better construction activities have lent support to domestic billet offers in China.
Besides, Chinese export offers have also moved up by USD 40/MT in a week. Currently, 125*125 mm billet offers are evaluated at USD 370/MT FoB China, which was USD 330/MT FoB China a week ago.
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