Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli and Qian‘an was settled at RMB 3,570/MT, down RMB 20. Today, the steel market is in weak consolidation, echoed with insufficient transactions on billet and downward prices of finished products. Mill direct sales are moderate, the ex-warehouse spot is around RMB 3,630-3,640/MT tax-included with moderate transactions. The billet inventory at warehouses of Xiangyu Zhengfeng and Haiyi Hongrun is 277,000 MT, a decrease of 10,000 MT from yesterday. The overall transactions on finished steel are under performed, though certain resources saw active trading. It is expected that the billet will drop by RMB 10-20 in the afternoon.
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