Asia import billet prices bounce back amid renewed demand

Prices for cargoes of steel billet imported to Asia increased over the week amid greater restocking demand from buyers and a slight upward movement in Chinese futures markets, sources told Fastmarkets on Friday June 4.

Offers for blast furnace (BF) billet from Indonesia were heard at $720 per tonne cfr China at the start of the week, up from $700 per tonne cfr, while BF material from Vietnam was heard available from traders at $700-710 per tonne cfr.
Offers from India for BF billet were heard at $680 per tonne cfr China during the week, but there is still significant resistance in the Chinese market to purchase Indian steel billet imports amid logistical problems, sources said.

"It seems some Chinese buyers aren't willing to touch Indian cargoes due to the port restrictions on vessels coming from India," a South Asian trader...

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