WEEKLY: Tangshan billet prices mount further to 9-mth high

Billet prices in Tangshan in North China's Hebei province extended their rises over May 4-10 amid upbeat market sentiment brought by the strong performance of major ferrous futures prices, according to Mysteel's assessment.

On May 10, Mysteel assessed the price of Q235 150mm square billet in the city at Yuan 3,100/tonne ($456/t) EXW including the 13% VAT, up by Yuan 60/t on week and the highest since August 12 last year. The price rise further improved the profit margins of steelmakers but worsened