WEEKLY: Tangshan billet prices gain $3/t on week after CNY holiday

Billet prices in Tangshan in North China's Hebei province increased on week over February 23-March 1 after holding steady throughout the Chinese New Year (CNY) holiday. Mysteel assessed the price of Q235 150mm square billet in the city on March 1 at Yuan 2,920/tonne ($425/t) EXW including the 13% VAT, up by Yuan 20/t on week.

On the supply side, several local steelmakers ramped up production, resulting in higher billet availability in the market. The volume of billet sold or exported by the 21 steelmakers in Tangshan and the surrounding area regularly monitored by Mysteel rose by 3.3% or 1,500 tonnes/day after the CNY break