Demand for 120 and 130mm size billets remain strong over 150 mm, buyers pay higher price for smaller size billets.
Few trades have been reported in Philippines for square billets of size 120/130 mm,according to trade sources. This is primarily due to absence of Chinese billets of this size.
“Chinese mills want to produce 150 mm sized billets due to higher productivity and not 125 mm sized billets. 125 mm sized billets workable price is around $535-540/t CFR Philippines” said a billet trader based in Singapore.
Recent deals reported are
1. Japanese 6,000 MT billet (130mm) sold at around $533/t CFR LO Manila this week.
2. Middle East 5,000 MT billet (130mm) sold by a Chinese trading house at around $538 CFR Manila,Philippines
3. Taiwan based mills are offering 130 mm billets at around $530/t FOB, although no deal has been reported.
Indian Billet
Similar trend was observed in latest billet tender floated by Indian mills last week. According to reports, 125mm sized billets was concluded which fetched bids close to USD 520/MT FOB India, where as 150mm billets were dropped as bids were below USD 500/MT FOB India.
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