WEEKLY: Tangshan billet prices hit intra-year high

Billet prices in Tangshan in North China's Hebei province extended their on-week gains during the week of April 20-26 to hit the highest level this year, the latest Mysteel data shows. Market sentiment had remained buoyant, boosted by broad gains in prices of ferrous futures last week.

On April 26, Mysteel assessed the price of Q235 150mm square billet in the city at Yuan 3,020/tonne ($437/t) EXW including the 13% VAT, up by Yuan 40/t on week. The moderate price increase significantly raised profit margins among steelmakers but also strengthened the already cautious mood among re-rollers that