WEEKLY: Tangshan billet prices drop further on week

Billet prices in Tangshan in North China's Hebei province lost more ground during June 22-28, with Mysteel assessing the price of Q235 150mm square billet in the city at Yuan 2,960/t ($436/t) EXW and including the 13% VAT on June 28, down Yuan 40/t on week.

Lower billet prices have worsened the losses for Tangshan steelmakers from billet sales, propelling them to conduct maintenance on some blast furnaces while consuming more billets to produce finished steel items rather than selling them to the market. This led billet availability in local markets to contract last week, with