Billet: Yesterday, the ex-factory price of general carbon billet in Tangshan, Changli and Qian’an was settled at RMB 3,530/MT down RMB 30. Today, the steel market runs in weak trend with tepid transactions on billet and downtrend of mainstream finished steel prices. Mill direct sale is passable. The ex-warehouse spot is at RMB 3,600-3,610/MT tax-inclusive with some transactions seen at low-cost resources. The billet inventory at warehouses of Xiangyu Zhengfeng and Haiyi Hongrun is 284,100 MT, down 8,500 MT. The overall shipment of finished products is weak, and it is expected that the billet will drop RMB 20-30 in the afternoon.
Construction steel: The mainstream price on Tangshan market decreased by RMB 20. The current market price of rebar HRB 400 of big specification is at RMB 3,950/MT, small specification at RMB 4,030/MT, while coiled rebar at RMB 4,060/MT. Transaction is powerless
HRC: Tangshan hot-rolled flat sheet lowered by RMB 10, to see 1,500 mm wide flat sheet by first-tier steel mills offered at RMB 3,890/MT, second-tier steel mills at RMB 3,880/MT, Q345 flat sheet at RMB 4,060/MT. Transaction are few.
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