Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli and Qian’an was settled at RMB 3,340/MT, down RMB 10; in today’s morning session, the price of billet in Changli area took the lead to gain RMB 10 reaching RMB 3,350/MT. Transactions on billet is moderate after price hike while price of mainstream finished steel trends up slightly. Mill direct sales are smooth. The ex-warehouse spot price is offered at around RMB 3,420/MT tax-included with a few transactions. The billet inventory at warehouses of Xiangyu Zhengfeng and Hairun Hongyi is 121,600 MT, down 7,600 MT from yesterday. The overall trading of finished steel is smooth and it is expected that billet price in the afternoon may go up.
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