Billet: Yesterday, the ex-factory price of general carbon billet in Tangshan, Changli and Qian ‘an areas was settled at RMB 3,550/MT up RMB 10. Today’s steel market is weak, with reduced transactions on billet and the product prices are slightly getting lower. Mill direct sales are weak. The ex-warehouse spot is offered at RMB 3,580/MT tax-inclusive with a few transactions. The billet inventory at warehouses of Xiangyu Zhengfeng and Haiyi Hongrun is 182,300 MT, down 1,100 MT. The overall transaction of finished products is sluggish, and it is expected that the billets will drop by about RMB 30 in the afternoon.
Construction steel: The mainstream construction steel in Tangshan dropped by RMB 10-20, to see the current market price of rebar HRB 400 of big specification being at RMB 3,890/MT, small specification at RMB 3,980/MT, while coiled rebar at RMB 4,060/MT. Transactions are weak.
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