MYSTEEL: China's billet prices to extend declines in H2

Domestic prices for billets in China are likely to soften further during this year's July-December half, reflecting the ongoing supply glut and consequent rise in inventories, according to Mysteel's latest semi-annual report on the commodity.

During H1, strengthening cost support and growing overseas demand provided strong impetus to billet prices, while sluggish domestic demand and mounting stocks loomed as negatives, the report noted. As such, Chinese billet prices witnessed a small decline in H1, with the price of Q235 150mm square billet in Tangshan city