EXCLUSIVE: China turns to billet imports to fill gap left by blast furnace production cuts

Chinese steelmakers are importing billet because of the reduction in domestic supplies caused by China's environmental restrictions on blast furnace production.

Billet from Turkey, Iran, Qatar, Russia and Malaysia has been sold into China, market sources said, due to open arbitrage window between domestic and international prices. “About 200,000-300,000 tonnes of billet from the Middle East will make landfall in China this month,” a Chinese trader told Fastmarkets on Friday July 12. The cargoes were sold at $440-450 cfr China, and were...

Published

Jessica Zong

Paul Lim

Lee Ken Kiat

July 12, 2019

08:40 GMT

Singapore