Several hundred thousand tonnes of imported billet were heard sold to China through the weekend and into the beginning of the week before activity paused on Tuesday
, sources said.
“By my count, it looks like China has booked 600,000 tonnes of steel billet since the start of September at least,” a major Singaporean trading source told Fastmarkets.
Deals for Indonesia-origin 3sp 150mm blast furnace (BF) billet were heard at $715 per tonne cfr China in the week, while Qatar-origin billet was sold at $715 per tonne cfr in the week, sources said.
That is in addition to deals at $716 per tonne cfr China for billet from the United Arab Emirates and $720 per tonne cfr from India, as reported by Fastmarkets on Tuesday.
A deal for Turkey-origin electric arc furnace (EAF) billet was rumored to have been done at $620 per tonne fob Turkey or $710-715 per tonne...