Chinese Domestic Billet Market Update, 29 Oct’19
Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli and Qian’an was settled at RMB 3,350/MT, down RMB 10; in today’s morning session, the price of billet tends to go weak and transactions on billet are moderate while price of finished steel slips slightly.
Mill direct sales are plain. The ex-warehouse spot price is offered at around RMB 3,420/MT tax-included without transactions temporarily. The billet inventory at warehouses of Xiangyu Zhengfeng and Hairun Hongyi is 129,200 MT, down 6,600 MT from yesterday. The overall trading of finished steel is tepid and it is expected that billet price in the afternoon may go down by RMB 20.
source: SteelMint
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