China books limited import billet tonnage after return from holiday

Buyers in China placed a handful of orders for imports of steel billet on Wednesday and Thursday following a public holiday in the country at the start of the week, sources told Fastmarkets.

Chinese buying activity was minimal on Monday and Tuesday amid the closure of ferrous futures markets during the Mid-Autumn Festival holiday, but fresh deals were concluded later in the week at prices largely comparable with last week, prior to the holiday.
Deals for 30,000 tonnes of Indonesia-origin 3sp 150mm blast furnace (BF) billet were heard booked at $710-715 per tonne cfr China for November shipment in the middle of the week, sources said.
More deals for such material could have been concluded, but a tug-of-war took place between a buyer and seller on Thursday over a deal on which the seller held firm at $715 per tonne cfr, Fastmarkets heard.

A Vietnamese steelmaker source told Fastmarkets that he had...


Lee Allen

September 24, 2021

13:46 GMT