The price of general carbon square billet in Tangshan rose by RMB 10 to see local steel mills and some in Changli reported at RMB 3,320/MT, cash including tax. Ex-warehouse billet spot reported at RMB 3,380-3,390/MT, including tax.
In the early trading, the billet price took the lead to go strong and rebar futures also registered growth, which boosted the market confidence, prompting active transactions. In the afternoon, rebar price rebounded further expanding transactions. At present, since independent rolling mills are still implementing production limit, the inventory is at low level, which helped mill to prop up the price. In short, the market tomorrow may stay in strong operation.
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