China Domestic Billet Market Update, 03 Sep’19
Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli was settled at RMB 3,330/MT, up RMB 20; while the same in Qian‘an area was settled at RMB 3,330/MT, up RMB 10. In the morning session today, Changli area saw cumulative gain of RMB 20 to RMB 3,350/MT. Transactions on billet were smooth after price uptick while price of finished steel mainly trended up.
Mill direct sales are smooth. The ex-warehouse spot price is offered at RMB 3,410/MT tax-included with some transactions. The billet inventory at warehouses of Xianggu Zhengfeng and Haiyi Hongrun is 403,100 MT, down 4,500 MT from yesterday. The overall transactions on finished steel are smooth and it is expected that billet price in the afternoon may stay stable or go up.
source: SteelMint
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