Yesterday the ex-mill, tax-inclusive price of general carbon billet in Tangshan, Changli and Qian’an were settled at RMB 3,000/MT, down RMB 10; In the morning today, the market in Changli garnered RMB 10 to report RMB 3,010/MT and in the afternoon, gained another RMB 10 to report RMB 3,020/MT; the transactions after price hike have been modest and price of finished steel trend up. Mill direct dispatch is smooth.
The warehouse spot is mainly offered at RMB 3,090-3,100/MT tax-inclusive with some transactions on low-cost resources. The billet inventory at warehouses of Xiangyu Zhengfeng, Haiyi Hongrun, Wuchan Zhenxiang, and Sumec Xincheng totaled 587,400 MT, down 7,500 MT from a day earlier.
The price of finished steel is set for the increase, though the overall transactions are modest and certain categories traded well.
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