GCC billet buyers seize opportunity to restock at acceptable prices

摘要

After a certain lull, the billet procurement activity slightly improved in the GCC. The buyers do not miss their chance to restock at acceptable prices ahead of Chi na re-opening. The interest in billet bookings was seen in the UAE. A substantial volume of Sau di semis was traded at the price range of $550-555/t delivered, Metal Expert has learnt. Some negotiations for the Omani and Indian origin products are underway. The discussed levels are $520-530/t EXW and $550-560/t CFR respectively. “These offers will be valid until the end of this week. We might see U-turn in the sellers’ sentiment after China is back on track,” a market insider said.