Yesterday the ex-mill, tax-inclusive price of plain carbon square billet 150*150mm in Changli and Qian’an was settled at RMB 3,140/MT, stable; today, steel market in Changli area rebound RMB 10 to report RMB 3,150/MT. Overall transactions on billet were modest, and the price of finished steel trends up. Mill’s direct dispatch is smooth. The warehouse spot is mainly offered at around RMB 3,250-3,260/MT tax-inclusive with some transactions on low-cost resources. The billet inventory at warehouses of Xiangyu Zhengfeng, Hairun Hongyi, and Wuchan Zhenxiang totaled 315,800 MT, down 6,400 MT from the level of a day earlier. The price of finished steel tends to hike with overall sort of weak transactions, though certain resources traded smoothly. It is expected that the billet price in the afternoon will go up.
Leave a Reply