Some market participants fear that the debt crisis engulfing major property developer Evergrande could have a wider knock-on effect on the Chinese construction sector, while others believe that demand for imported billet is being constrained by rolling mill shutdowns caused by widespread Chinese power shortages.
China has not purchased any import billet cargoes since deals were done at $710-715 per tonne cfr in the middle of last week
for Indonesia-origin 150mm blast furnace (BF) billet, sources said.
Indonesian 150mm BF billet was on offer at $715 per tonne cfr China on Tuesday, sources said, down from $720 per tonne cfr last week. And Vietnam-origin 150mm BF billet was still available for October shipment...