Weekly: Global billet market overview
Sep 15, 2020 11:00
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This week, global billet prices have witnessed a rise due to increased global scrap prices. On the other hand, the Chinese rebar futures have sharply dipped till mid-week. However, towards the weekend, it started recovering and settled at RMB 3,665/t. The fluctuating futures have increased the bid-offer spread have resulted in limited billet trades during the week.
Along with India, all other prime billet exporting nations have curbed their billet export allocations on improving respective domestic demand, which was affected due to the COVID-19 outbreak. It has led to the limited availability of billets in the global market, which is pulling the global billet prices, supported by