Chinese 3sp steel billet was heard to have been offered at $605 per tonne cfr Manila in recent days.
This corresponds to around $585-590 per tonne fob, based on freight of about $15-20 per tonne from China to Manila, market participants told Fastmarkets.
Fastmarkets’ price assessment for steel billet domestic, exw Tangshan, Northern China
was at 3,810 yuan ($589) per tonne in the first three days of this week.
Domestic demand for billet in China is weakening while...