China has continued booking billets from India. An Indian mill was reported to book approximately 30,000 MT billets to China recently. The deal value was noted to be USD 380-385/MT, CFR. The mill was able to fetch the high price due to the heavy port congestions at the Paradip port, shared sources with SteelMint. And hence, the mills which are using Paradip port for shipments are offering at a higher price than other mills. While the other ports of the country are comparatively reasonable in the current situation.
After this deal, SteelMint’s assessment for Indian billet (150*150mm, 3SP/4SP) export stands at USD 355-365/MT, FoB, up by USD 5 W-o-W.
For instance, some deals from Haldia and Vizag ports were heard to have concluded at USD 360/MT FoB levels. However, final confirmation about these deals is still awaited.
On the contrary, the domestic billet prices in China were heard to have at RMB 3,140/MT, Ex-Tangshan, inclusive of all taxes.
Meanwhile, billet export offers from CIS Nations were reported to be at USD 340/MT, FoB Black Sea. While that from Iran are noted to be at USD 340-345/MT, FoB Iran.
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