WEEKLY: Tangshan billet prices drop further on week

Tangshan billet prices in North China's Hebei province lost more ground during November 2-8, with Mysteel assessing the price of Q235 150mm square billet at Yuan 2,880/tonne ($431.6/t) EXW including 13% VAT on November 8, down by Yuan 10/t on week.

Notably, the weak market fundamentals had led billet prices in the city to touch a two-year low of Yuan 2,850/t last Tuesday, as reported. But recovering market sentiment buoyed by the Democrats' sweeping victory in the US midterm elections lifted billet prices to Yuan 2,880/t on Thursday where they