With measures to contain the fast-spreading coronavirus pandemic slowing business activity outside China and jeopardising demand for steel, steel billet prices in some countries are seeing sizable discounts against Chinese prices, boosting flows to China.
Southeast Asian billet is currently offered at $405-410/mt, tax included, in China, while resources from producers in Jiangsu, East China, will cost about $462/mt. That creates a price gap of nearly 300 yuan/mt. Billet from Russia is around $35/mt cheaper than those from Southeast Asia in terms of FOB prices.
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