WEEKLY: Tangshan billet prices rise further on higher input costs

Billet prices in Tangshan in North China's Hebei province gained more ground during August 24-30 on the back of strengthening cost support, with Mysteel assessing the price of Q235 150mm square billet in the city at Yuan 3,030/tonne ($451/t) EXW and including the 13% VAT on August 30, up by Yuan 40/t on week.

Last week's rise in billet prices coincided with higher prices of metallurgical coke after major steelmakers in North China had accepted the Yuan 100-110/t hike initiated by independent coke firms last Monday, as Mysteel Global reported. Last Friday, the coke makers demanded the mills accept another Yuan 100-110/t increase