Domestic billet prices in China has inched up today after observing a decline last week. The ex-factory price of general carbon billet in Tangshan, Changli and Qian’an areas was settled at RMB 3,460/MT up RMB 10/MT yesterday. Today, the transaction of billet is tepid while price of finished products varied. The specific transactions are as follows:
Billet: Volume through mill direct sale is acceptable; ex-warehouse taxed spot is at RMB3,510-3,530, but the transaction volume is average. The billet inventory at warehouses of Xiangyu Zhengfeng and Haiyi Hongrun in Tangshan totaled 811,600 tons, an increase of 11,000 tons. The price of finished products differs with up and down, and the overall transaction is average. It is expected that the billet will remain stable in the afternoon.
Construction steel: The overall transaction has been sound. The mainstream market saw the price dropped by RMB10. The current market price of rebar HRB400 of big size is at RMB 3,890 small size at RMB 3,920 while coiled rebar at RMB 3,970.
HRC: Tangshan HRC market price decreased by RMB 50, and 3.0mm coils are at RMB3,790, mainstream price of 5.5mm flattened is at RMB3,770, and Q345 flattened at RMB3,930. The above is taxed at 13% rate cash. Transaction was weak.
Medium plate: Mid-plate market in Tangshan fell by RMB40, and now price of general carbon plate 14-22mm is reported at RMB 3,940, and low alloy plate at RMB 4,140. The above is taxes at 13% cash.
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