WEEKLY: Tangshan billet prices decline further on week

Billet prices in Tangshan in North China's Hebei province continued to soften last week, with Mysteel assessing the price of Q235 150mm square billet in the city on February 1 at Yuan 2,940/tonne ($423/t) EXW including the 13% VAT, down by Yuan 10/t on week.

As for billet supply, some local steelmakers conducting maintenance had idled some rolling mills producing steel strips, resulting in more sales of billets into the market which boosted overall billet availability, Mysteel's weekly report noted. During January 23-29, the average volume of billet sold or exported by the 21 steelmakers