Chinese domestic billet prices have been fluctuating since last 2-3 days. Today, prices have jumped up by RMB 40/MT (USD 6/MT) to RMB 2,490/MT (USD 383/MT) compared to last day trade, which was closed at RMB 2,450/MT (USD 377/MT).
A week earlier, prices had been falling persistently in China’s domestic market on account of price reduction by nation’s largest billet maker, Xinda.
Chinese billet export offers
Chinese billet export offers have increased by USD 10-15/MT due to rising domestic prices. Current offers for Q235 150*150 mm billet are heard being offered in the range of USD 405-410/MT, FoB China main port, which was assessed at around USD 390-400/MT FoB last week.
However, global buyers are hesitant taking position at these levels. Some of them have switched their buying interest to India.
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