WEEKLY: Tangshan billet prices decline amid weakening fundamentals

Billet prices in Tangshan, North China's Hebei province, dropped mildly amid a trading lull during the country’s National Day holiday over October 1-7, though the semis prices have shown signs of firming late last week in tandem with rallying ferrous futures.

Mysteel assessed the price of Tangshan Q235 150mm square billet at Yuan 2,960/tonne ($442/t) EXW and including the 13% VAT on October 11, slipping by Yuan 20/t from September 30, the last workday before the weeklong holiday. The price decline could be largely attributed to the intensifying supply surplus of