Indian billet export offers have gained momentum this week as Chinese supplies continued to remain low.
Export offers for 150×150 mm billet from India are assessed at USD 320-325/MT FoB main port, which were USD 310-315/MT last week.
Chinese billet offers for the same size are not less than USD 325-330/MT, FoB China main port.
Chinese government is investigating tax rebates enjoyed by Chinese mills by exporting billets in the name of square bar. Participants mention that there are limited offers from China at the moment as people are waiting for the government’s decision on billet exports.
Demand for Indian and CIS region billet increases
Participants mention that demand for billet has increased from India and Russia in order to offset short supply from China.
Last Indian tender had fetched overwhelming response. Bids were higher by almost USD 5-10/MT as compared to last tender.
Global billet prices in week 34 (15-21 Aug’16)
| Particular | Grade | Delivery | Prices | 1W |
| India Export | 150 X150 mm | FoB India | 320-325 | 315-320 |
| Ukraine Export | 125X125 mm, 3sp | FoB Ukraine | 320-325 | 320-325 |
| Turkey Import | 125X125 mm | CNF Turkey | 335 | 335-340 |
| China Export | 150X150 mm,Q235 | FoB China | 325-330 | 325-330 |
| Bangladesh Import | 150X150 mm | CNF Bangladesh | 335-340 | 330-335 |
Prices in USD/MT
Source: SteelMint Research
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