The most traded rebar and hot-rolled coil futures contracts on the Shanghai Futures Exchange closed up by 3.74% and 3.13% respectively on Friday afternoon.
Fastmarkets’ price assessment for steel billet, import, cfr China
was $680-700 per tonne on Friday, up $10-20 per tonne week on week from $670-680 per tonne.
Offers for Indonesia-origin blast furnace (BF) 3sp 150mm billet were heard at $710-720 per tonne cfr China in recent days, while Japanese 3sp billet offers rose to $720-730 per tonne cfr, sources said.
Buying interest was largely capped at $680 per tonne cfr over the week, but bid levels rose to around $695 per tonne cfr China for Vietnamese 3sp BF billet by the Friday, Fastmarkets heard.
One deal for 40,000 tonnes of Vietnam-origin 3sp billet was...