WEEKLY: Tangshan billet prices gain further on week

Billet prices in Tangshan in North China's Hebei province posted further gains over March 9-15, with Mysteel assessing the price of Q235 150mm square billet in the city at Yuan 2,970/tonne ($431/t) EXW including the 13% VAT on March 15, up by Yuan 30/t on week.

The price uptick can be largely attributed to better market sentiment, as reflected in higher futures prices, Mysteel Global noted. For instance, the most-traded rebar futures contract for May delivery on the Shanghai Futures Exchange closed the daytime trading session on March 13 at Yuan 3,142/t, jumping by 2%