WEEKLY: Tangshan billet prices lose more ground on week

Billet prices in Tangshan in North China's Hebei province dropped further on week during July 27-August 2, with Mysteel assessing the price of Q235 150mm square billet in the city at Yuan 2,920/tonne ($432/t) EXW and including the 13% VAT on August 2, down by Yuan 40/t on week.

The mild price drop reflected the poor performance of major ferrous future prices and the downbeat market sentiment last week. For example, on July 31 the most-traded rebar contract on the Shanghai Futures Exchange for October delivery closed the daytime trading session 2.25% down from the settlement price of