26
May
16:40
Indian billet offers plummet dramatically after duty announcement
East African billet buyers have pulled back to assess the repercussions of India’s export duty imposition. Moreover, the subsequent sliding domestic billet prices in India have made it riskier for the buyers to place orders, Kallanish notes.
Indian mills are aiming to sell their 3SP/4SP re-rollable grade induction furnace billet at $650-670/tonne fob India, equating to $730-740/t cfr Kenya and Tanzania. However, these offers are not receiving firm bids, sour…
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Anonymous
Very good overview of the weekly steel market.
Anonymous