Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli was settled at RMB 3,400, down RMB 20; while the same in Qian’an area was settled at RMB 3,420/MT, down RMB 20. In the morning session today, Changli area took the lead to gain RMB 10 to RMB 3,410/MT. Transactions on billet are plain while price of finished steel trended up. Mill direct sales are general. The ex-warehouse spot price is offered at RMB 3,490/MT tax-included with a few transactions. The billet inventory at warehouses of Xianggu Zhengfeng and Haiyi Hongrun is 298,700 MT, up 9,200 MT from yesterday. The overall transactions on finished steel are smooth and it is expected that billet price in the afternoon may stay stable.
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