China to import Bangladesh steel billet from GPH Ispat

A mill in Bangladesh has made the country’s first sale of steel billet for seaborne export after transacting a 25,000-tonne cargo to China in recent weeks, market sources told Fastmarkets on Thursday October 15.

Bangladeshi steelmaker GPH Ispat sold the cargo 3-4 weeks ago at $407 per tonne fob Bangladesh, which would be equivalent to $435 per tonne cfr China, market participants said. The same mill was heard offering billet at prices of $420 per tonne fob before the deal was concluded.

The highly unusual trade, which is the first deal of its kind ever done by a Bangladeshi mill, comes only months after GPH Ispat ramped up steel output by...

Published

Lee Allen

October 15, 2020

12:10 GMT

Singapore