August 06,
The Billet market saw a slight growth of RMB 30/tonne in Tangshan, the Coal mining center of China as business started on Thursday while transactions were fairly favorable.
In the Billet market, transactions turned better after the traders cut their quotations to RMB 3,810/tonne (price to factory) on Wednesday, and therefore, they raised their offers slightly on Thursday.
The Current prices of Billet are as follows:-
· Common Carbon Square Billet (150mm): RMB 3,840/tonne
· Rectangular Billet (165mm): RMB 3,870/tone
· MnSi Billet (20mm):RMB 3,960/tonne
The market participants, with a good mentality, believed that the recent two days’ Billet price increase was normal and that Billet prices were unlikely to dip supported by the costs.
Moreover, partial Billet makers, which had received many orders previously, were now executing the prior prices at RMB 3,850-3,880/tonne, maintaining their offers stable, while large-sized Billet producers directly refused new orders.
It was predicted that the Billet market in Tangshan which is one of the busiest sea ports and an important Heavy Industry city of China would maintain adjustments in the short run.
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