WEEKLY: Upbeat sentiment buoys Tangshan billet prices

Billet prices in Tangshan in North China's Hebei province posted moderate gains last week, with Mysteel assessing the price of Q235 150mm square billet in the city on January 11 at Yuan 2,970/tonne ($426/t) EXW including the 13% VAT, up by Yuan 40/t on week.

The price rise had followed the hike in rebar futures prices a few days earlier on January 7, with the most-traded rebar futures contract for next May delivery on the Shanghai Futures Exchange jumping by 2.87% from the prior day's settlement price to close the daytime trading session at