Chinese imported billet prices rose for a third consecutive trading day Sept. 6 amid rising domestic markets as Vietnamese sellers raised offers.

          The most actively traded January 2022 rebar contract on the Shanghai Futures Exchange closed at Yuan 5,473/mt ($849/mt) on Sept. 6, up Yuan 65/mt, or 1.2%, from Sept. 3.

           Tangshan Q235 billet was assessed at Yuan 5,210/mt, up Yuan 40/mt from Sept. 3.

           S&P Global Platts assessed China-imported 3SP 150 mm spot billet at a midpoint of $695/mt CFR China, up $5/mt on the day. Platts assessed Southeast Asia 5SP 130 mm spot billet at $688/mt CFR Manila, up $3/mt from Sept. 3.

          Several Vietnamese mills placed higher offers in both China at $700-$710/mt CFR for blast furnace material and $$690-$695/mt CFR for induction furnace material, up $5/mt from Sept. 3, several market sources said.

          Russian, Indian and Indonesian mills were yet to refresh quotes.

          In China, buying indications rose to $695/mt CFR China amid rising futures market for traders who hedged in the futures market, but buying indications from end users did not catch up that fast, an eastern Chinese trader said.

          An eastern Chinese mill source said demand was yet to pick up, adding that he expected it to increase in October.

          In the Philippines, Vietnamese sellers lifted offers to $690-$695/mt CFR Manila for induction furnace material, up $5/mt from Sept. 3.