Chinese
billet offers to the export markets, which closed last week in the range of $350-360/mt FOB, have started the current week at $330-335/mt FOB, indicating declines of $20/mt on the lower end and $25/mt on the upper end. Market sources state that Chinese
billet export offers have fallen by $57.5/mt on average since the beginning of last week, while they are expected to continue their downward trend. In fact, market sources state that further declines in Chinese
billet offers may be seen today, May 9