Chinese Billet Import Offers Rise Following Hike in Global Offers

Chinese billet import offers witnessed an increase over hike in offers from major exporting nations which was in turn due to the rise in Turkey's imported scrap prices. Imported scrap prices to Turkey rebounded sharply last week amid tight supply at yards due to low scrap availability and slow inflow.

The billet import offers in China are now at USD 360-365/MT, CFR level, up USD 5-10/MT against last week, SteelMint learned from its sources. While last week, the country was noted to conclude 40,000 MT billet deal from India at USD 355/MT, CFR China, SteelMint learned from reliable sources.

Meanwhile, domestic billet prices in China are at USD 3050/MT, ex Tangshan, inclusive of all taxes.

Indicative billet export offers from major exporting nations is currently assessed at-

-- CIS Nations- USD 340/MT, FoB Black Sea

-- India- USD 350-355/MT, FoB

-- Iran- USD 338-340/MT, FoB