WEEKLY: Tangshan billet prices rise on cost support

Billet prices in Tangshan in North China's Hebei province posted moderate gains during August 17-23 on the back of elevated costs for inputs, with Mysteel assessing the price of Q235 150mm square billet in the city on August 23 higher by Yuan 50/tonne ($7.4/t) on week at Yuan 2,990/t EXW and including the 13% VAT.

Semi-finished steel prices began climbing from last Thursday through Saturday on market speculation that major local steelmakers would agree to pay Yuan 50-55/t more for their metallurgical coke, as demanded by independent coke producers, as reported. Nonetheless, the uptick in billet prices is merely a passive response to mounting costs.