China import billet deals agreed at stable prices ahead of National Holiday

Further deals for steel billet booked by Chinese buyers earlier this week came to light on Thursday September 30, the day before the country began its National Holiday, sources told Fastmarkets.

Power shortage issues, together with concerns over the debts incurred by property giant Evergrande, reduced billet market sentiment in China at the beginning of this week, but some deals were booked to the country in recent days.
Indonesia-origin 150mm 3sp blast furnace (BF) was sold at $710 per tonne cfr China this week, following offers at $715 per tonne cfr for the material. This followed deals done at $710-715 per tonne cfr China for material produced by the same mill last week.
Oman-origin billet was sold at $700 per tonne cfr China earlier this week, but a major trading source said that the cargo was sold below normal market levels because it was for 165mm billet, which is larger than China's preferred 150-mm size.

A Far East Russian steelmaker sold 20,000-30,000 tonnes of December-shipment 150mm billet at $705 per tonne cfr China, while 40,000 tonnes of Ukraine-origin billet was...

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