WEEKLY: Tangshan billet prices remain stable during CNY holiday

Billet prices in Tangshan in North China's Hebei province remained largely stable during the Chinese New Year (CNY) holiday from February 15-23, with Mysteel assessing the the price of Q235 150mm square billet in the city on February 22 at Yuan 2,900/tonne ($424/t) EXW including the 13% VAT.

On the supply side, some steelmakers in Tangshan slightly increased production during the holiday. As a result, the average volume of billet sold or exported by the 21 steelmakers in Tangshan and the surrounding area under Mysteel's tracking edged up by 2.2%, or 1,000 tonnes/day, from the level recorded