Approximately 100,000 tonnes of 3sp 150mm square billet were secured from a specific Russian mill at a base price of $500/tonne CFR Taiwan, with shipment scheduled for May/June.
The majority of the deal involved vanadium-added billet, with additional costs of $22/t for 0.02% V and $27/t for 0.03% V, according to a regional trader. Although sourcing these billet grades from China is feasible, it's typically challenging to compete with Russian prices. However, recent pricing trends have made Chinese prices comparable to Russian ones, especially for vanadium-added billet.
A Taiwanese trader noted a positive trend in the rebar market recently, emphasizing that rebar inventories are decreasing. The impending hike in electricity tariffs in Taiwan, expected to raise steelmaking costs, likely contributed to the surge in purchasing activity.
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