Bangladesh based importers have claimed to receive offers from South Korea at around USD 530-535/MT CFR Chittagong for high grade MS Billet, however Bangladeshi importers prefer Indian Billet over any other country due to prompt delivery.
“Billet from India has always been in good demand in Bangladesh. In order to remain in the market, steel mills have reduced their price. Some steel millers are even buying lower quality, say 3SP grade, billets to beat the price. Current expectations for Indian material are USD 485-495/MT CFR Beanpole border”, said an importer based in Dhaka (Bangladesh).
We are receiving offers from South Korea and other South East Asian countries at around USD 535/MT CFR Chittagong, said another importer based in Chittagong.
Indian exporters have been supplying Billet at around USD 509/MT FOB Chennai to Chittagong (Bangladesh), but due to rise in domestic prices, exporters have raised their offers by USD 5-10/MT recently.
In Indian market, MS Billet is being offered in the range of USD 515-535/MT (Ex-Works).
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