Chinese buyers purchase deluge of billet cargoes from around the globe

Chinese buyers purchased several hundred thousand tonnes of import steel billet cargoes at rising prices during the week to Friday September 10, amid support from tighter production restrictions in the country, sources told Fastmarkets.

Deal prices for 3sp billet imported to China reached $705 per tonne cfr by Tuesday and continued rising through the latter part of the week.
Fastmarkets’ price assessment for 3sp-grade steel billet, import, cfr China was $700-720 per tonne on Friday, up $35 per tonne from $665-685 per tonne one week prior.
A sale of 3sp square billet from Far East Russia was done at $720 per tonne cfr China on Thursday.
The highest deals for Indonesia-origin 3sp 150mm blast furnace (BF) billet were concluded at $715-720 per tonne cfr on Thursday for November shipment, up from sales at $705 per tonne cfr earlier in the week.

Vietnamese 3sp 150mm BF billet was sold on Tuesday at $702-705 per tonne cfr China...

Published

Lee Allen

September 10, 2021

11:58 GMT

London