WEEKLY: Tangshan billet prices decline on week

Billet prices in Tangshan in North China's Hebei province edged lower during June 15-21, with Mysteel assessing the price of Q235 150mm square billet in the city at Yuan 3,000/t ($442/t) EXW and including the 13% VAT on June 21, down Yuan 40/t on week.

Lower billet prices and rising production costs have worsened losses for Tangshan steelmakers from billet sales, prompting them to consume more billets for downstream steel production rather than selling them into the market, Mysteel Global noted. Consequently, the volume of billets sold or exported by the 21 steelmakers in Tangshan