Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli was settled at RMB 3,410/MT, up RMB 20; while the same in Qian’an area was settled at RMB 3,420/MT, stable. In the morning session today, Changli area took the lead to gain RMB 10 to RMB 3,420/MT. Transactions on billet were smooth after price adjustment while price of finished steel slightly trended up. Mill direct sales are smooth. The ex-warehouse spot price is offered at RMB 3,510/MT tax-included with some transactions. The billet inventory at warehouses of Xianggu Zhengfeng and Haiyi Hongrun is 307,000 MT, up 8,300 MT from yesterday. The overall transactions on finished steel are weak and it is expected that billet price in the afternoon may stay stable.
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