China jumps into steel billet export market amid muted local market

Chinese steel mills and traders have been actively offering steel billet to Southeast Asia over the last week amid a drop in domestic demand, market sources told Fastmarkets.

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...

Published

Lee Allen

Jessica Zong

January 14, 2021

10:40 GMT

Shanghai