Chinese metal traders try to break down world market of steel billets being offering lowest quotations. It is going since the end of June month , they are still hoping for get positive results sending of inquiries and requests with lowest prices which can not be accepted for present conditions of market. It is some strange their behavior without realistic perspective. We have received approximately 30 inquiries for purchase steel billets with terms of delivery CFR, CIF china’s ports from different chine’s traders in during of last 60 days and no one request could not corresponded current conditions of market in part of their proposal of price. We would like to say that same their behavior is stimulation of market or manufacturers of steel billets lost sales markets – No, in this case what is that – is late transformation for current reality – probably!
In any case present quotations on world steel billets market allow to conclude contracts for 405-410$ FOB black sea for September shipment with the real customers with little discounts 2% and there is not necessity to accept Chine’s side with not adequate proposals for this type of steel products.
We had been looked same situation with pig iron also.