WEEKLY: China billet price jumps on demand pickup
Aug 10, 2020 13:30
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The representative price of billet in Tangshan, China’s largest billet supply base in North China’s Hebei province, stood at Yuan 3,440/tonne ($493.8/t) as of August 7, jumping Yuan 50/t on week, thanks to the demand recovery from the city’s re-rollers.
Friday’s price remained at an eight-month high, though it had slipped slightly from the peak of Yuan 3,460/t the day before, Mysteel Global noted. Last week, billet consumption and buying improved markedly as steel re-rollers in Tangshan had gradually resumed production since August 1 after a production ban imposed by