WEEKLY: Tangshan billet prices drop further on week

Billet prices in Tangshan in North China's Hebei province softened further last week, with Mysteel's assessment of the price of Q235 150mm square billet in the city declining by Yuan 30/tonne ($4.3/t) on week to reach Yuan 2,940/t EXW including the 13% VAT as of December 14. The price dropped by Yuan 20/t on week to Yuan 2,970/t over December 1-7, as Mysteel Global reported.

The price slide was mainly a symptom of the decline in futures prices for rebar last week, according to Mysteel's weekly roundup. The price of the most-traded rebar futures contract for next May delivery on the Shanghai Futures Exchange fell sharply last week, closing the daytime trading session on December