WEEKLY: Tangshan billet price rebounds on week

Billet prices in Tangshan in North China's Hebei province recovered over October 19-26, with Mysteel assessing the price of Q235 150mm square billet in the city higher by Yuan 30/tonne ($4/t) on week at Yuan 2,950/t EXW including the 13% VAT on October 26.

Rising billet prices also helped the local steelmakers reduce a little of the losses they have been suffering on billet sales. As of October 24, the 22 mills in Tangshan city under Mysteel's tracking were losing Yuan 27/t on average when selling their semis, slightly small than last week's