WEEKLY: Tangshan billet prices mark time on week

Billet prices in Tangshan in North China's Hebei province largely marked time during August 10-16, with Mysteel assessing the price of Q235 150mm square billet in the city staying unchanged on week at Yuan 2,940/tonne ($435/t) EXW and including the 13% VAT by August 16.

The flat ex-works prices of this steel semis kept Tangshan steelmakers in the red, with losses still exceeding Yuan 100/t and weighing on their production appetite. Meanwhile, a couple of strip-rolling lines in the region came on stream in the past week, resulting in increased allocation of hot metal