China markets witness no gains in
Billet offers because demand for steel products has shown no signs of improvement.
Billet is not being available in sufficient quantity and production has come down. On account of this, prices might not fall much.
Some of the traders were expecting Billet offers to slip further eyeing reducing prices of finished products. Whereas, others are of the view that offers might reduce further as demand in steel products is not picking up.
In Tangshan city of China, Q235 Billet of 150*150mm is being offered in the range of RMB 3,580/t to RMB 3,610/t from a couple of weeks.
(Ex works prices including 17% VAT on cash payment basis).
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