The Middle-East based mills reported having sold over 100,000 t billets in China in the price range of $640-650/t, CFR for May ’21 shipments. These deals have been reported from Qatar, Kuwait, Oman, and Muscat in the last week. Amid Ramadan, the local demand remains subdued. However, increased Chinese bids amid rising Chinese rebar futures and domestic billet prices supported the Middle-East based mill to enjoy decent price realizations.
Leave a Reply