WEEKLY: Tangshan billet prices pull back after two-week rise

Billet prices in Tangshan in North China's Hebei province retreated on week over November 3-9 amid cooling market sentiment and weakening fundamentals, with Mysteel assessing the price of Q235 150mm square billet in the city lower by Yuan 40/tonne ($5.6/t) on week at Yuan 2,930/t EXW including the 13% VAT on November 9.

Daily billet output among the 22 local steelmakers Mysteel checks surged during the survey week as most blast furnaces resumed operation after the city government had lifted production restrictions on October 31, according to Mysteel's weekly report. Those mills produced 32,800 tonnes/day on average during October 31-November 6, jumping