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The South Korean steel producer last sold a billet cargo some three weeks ago to a trader at $523.50 per tonne fob. But prices have since shifted lower due to weak demand.
Fellow steelmaker Korea Steel Shapes Co (Kosco) was heard to have sold a cargo of the semi-finished product to a South Africa-based trader recently at about $510 per tonne fob. This sets the tone for the kind of price level that Hyundai Steel will likely get for its cargo.
The tender closes on Monday June 10.
Hyundai Steel is offering 20,000 tonnes of billet for end-July loading in an export tender this week.