A rebound in Chinese ferrous futures prices on Wednesday August 4 has led to increased interest in booking seaborne steel billet cargoes in China, sources told Fastmarkets.
Sharp drops in ferrous futures on both Monday and Tuesday sapped sentiment from the Chinese market, with buyer indications heard as low as $660 per tonne cfr China for 3sp billet on Tuesday.But bids for billet moved back up to $690-695 per tonne cfr China on Wednesday in tandem with a...