Chinese buying interest for imported billets has remained supported this week on higher domestic billet prices, thanks to rising steel futures. In a recently confirmed deal, 30,000t Vietnam-origin BF route billets were booked at $665-670/t FoB Vietnam for Aug’21 shipment. Although the destination of the export deal could not be confirmed at the time of publishing but it is expected to Taiwan or China with freight rates ranging from $20-25. Domestic billet prices in China stand at RMB 5,020/t ($774/t) in Tangshan, including 13% VAT, rising by RMB 20/t day-on-day.
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