Billet: Yesterday, the ex-factory price of general carbon billet in Tangshan, Changli and Qian’an areas was settled at RMB 3,600/MT up RMB 20. In the early morning, the Changli area led the gain of RMB 10 RMB 3,610/MT. The transactions on billet are plain while the prices of downstream finished product are largely stable. Mill direct sales are passable. The ex-warehouse spot is at RMB 3,690-3,700/MT tax-inclusive, with some transactions seen on low-cost resources. The billet inventory at warehouse of Xiangyu Zhengfeng and Haiyi Hongrun is 235,000 MT, down 4,100 MT. The overall shipment of finished products is weak, and it is expected that the price of steel billets will increase in the afternoon.
Construction steel: Mainstream construction steel on Tangshan market rose by RMB 40-60. The current market price of rebar HRB 400 of big specification is at RMB 4,030/MT, small specification at RMB 4,080/MT, while coiled rebar at RMB 4,080/MT. Transactions are weak.
HRC: Hot-rolled flat sheet lowered by RMB 10 soon after market opened. The price of 1500 mm wide flat sheet by first-tier mills is at RMB 3,890/MT, second-tier mills at RMB 3,880/MT, while Q 345 flat sheet at RMB 4,060/MT. Transactions are moderate.
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