The price offers of Chinese steelmakers remained well below their production costs. Chinese billet and HRC prices have started to trade at the same levels. Recent prices have dropped to $500/t cfr Southeast Asia for both billet and HRC.
The expectation that the prices will go down even more caused traders to display aggressive prices. Billet prices began to fall more rapidly. The changes in the billet market by region were as follows.
|
Billet Markets |
|
|
weekly change |
|
Russia / FOB |
510 |
$/ton |
-10 |
|
China export / FOB |
500 |
$/ton |
-10 |
|
China Import / CFR |
460 |
$/ton |
-5 |
|
Southeast Asia import / CFR |
520 |
$/ton |
-5 |
|
India Export / FOB |
490 |
$/ton |
- |
|
Iran Export / FOB |
470 |
$/ton |
-10 |
|
Turkey import / CFR |
535 |
$/ton |
- |
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