CIS STEEL BILLET: Offers rise on demand recovery in China

Offer prices on CIS-origin steel billet to foreign customers have surged upward toward the end of this week, supported by a recovery of demand in China, Fastmarkets heard on Thursday July 9.

Chinese domestic rebar prices rose early in the week on restocking activity and a rise in futures, which resulted in a resumption of import activity in the billet sector.
Chinese domestic billet has been traded at 3,390 yuan ($483) per tonne including value-added tax in Tangshan, up by 70 yuan per tonne since Monday.

In such conditions, there was renewed interest in imported billet, and a 20,000-tonnes cargo of Russia-origin material, to...


Vlada Novokreshchenova

July 09, 2020

19:00 GMT