It's reported that the Brazilian billet exporters have faced difficulty in overseas markets since this October due to sluggish demand and low bid prices.
It's learned that the Asian buyers currently bid US$520/ton FOB for the Brazilian billets.
Industry sources predicted that the demand and prices for billets may not rebound until next March.
Meanwhile, Brazil exported 5,979 ton of billets in October, slumping by 87.6% from 48,000 tons form a month ago. Among them, 5,196 tons were exported to Argentina with average prices of US$570/ton FOB.