WEEKLY: Tangshan billet price drops further on week

Billet prices in Tangshan in North China's Hebei province declined over October 13-19, with Mysteel assessing the price of Q235 150mm square billet in the city lower by Yuan 30/tonne ($4/t) on week at Yuan 2,920/t EXW including the 13% VAT on October 19.

Billet production remained largely steady even though the margin losses the local steelmakers suffered on their billet sales increased significantly on week. As of October 17, the mills in Tangshan city under Mysteel's tracking were losing Yuan 86/t on average from selling their billets, compared with only Yuan 9/t