Billet: Yesterday, the ex-factory price of general carbon billet in Tangshan, Changli and Qian’an was settled at RMB 3,560/MT down RMB 20. Today, the steel market tends to go weak with mediocre transactions on billet and downward adjustment on mainstream finished steel prices. Volumes of mills’ direct sales are passable. The ex-warehouse spot is at RMB 3,620-3,630/MT tax-inclusive with some transactions seen at low-cost resources. The billet inventory at warehouses of Xiangyu Zhengfeng and Haiyi Hongrun are 292,600 MT, down 6,900 MT. The overall shipment of finished products is weak, and it is expected that the billet will drop by RMB 10-20 in the afternoon.
Construction steel: The mainstream price of construction steel on Tangshan market dropped by RMB 10-30 from yesterday, and the current market price of rebar HRB 400 of big specification is at RMB 3,980/MT, small specification at RMB 4,060/MT, while coiled rebar at RMB 4,080/MT. Transaction is somewhat weak
HRC: Price of hot-rolled flat sheet in Tangshan saw price weakened, with 1,500 mm wide flat sheet by first-tier steel mills at RMB 3,900/MT, second-tier steel mills at RMB 3,890/MT, Q 345 flat sheet at RMB 4,070/MT. Transaction is powerless.
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