Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli and Qian‘an was settled at RMB 3,620/MT, down RMB 30. Today, the steel market is in weak consolidation, echoed with insufficient transactions on billet and downward prices of finished products. Mill direct sales are insufficient. The ex-warehouse spot is around RMB 3,630-3,640/MT tax-included with a few transactions at low prices. The billet inventory at warehouses of Xiangyu Zhengfeng and Haiyi Hongrun is 287,000 MT, a decrease of 11,100 MT from yesterday. The mainstream price of finished products is reduced to varied extent, and the overall transaction is plain. It is expected that the billet will drop by RMB 30-40 in the afternoon.
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