WEEKLY: Tangshan billet prices drop further on week

Billet prices in Tangshan in North China's Hebei province declined further during the week of May 18-24, with Mysteel assessing the price of Q235 150mm square billet in the city at Yuan 3,080/tonne ($454/t) EXW including the 13% VAT on May 24, down by Yuan 10/t on week.

Specifically, waning market sentiment from the contraction of end-user demand had weakened billet prices by Yuan 50/t as of last Friday to Yuan 3,040/t, according to Mysteel's assessment. But over the weekend, prices of the semis gained sharply by Yuan 40/t to reach Yuan 3,080/t amid intensifying concerns over