Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli and Qian‘an was settled at RMB 3,380/MT, stable; in today’s morning session, steel market is in weak operation with moderate transactions on billets and price of finished steel remain stable and mill direct sales are smooth. The ex-warehouse spot price is offered at around RMB 3,430-3,440/MT tax-included with some transactions on low cost resources. The billet inventory at warehouses of Xianggu Zhengfeng and Haiyi Hongrun is 252,200 MT, down 19,500 MT from last working day. The overall transactions on finished steel is somewhat weak and it is expected that billet price in the afternoon may remain stable or turn down by RMB 10.
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