WEEKLY: First dip in Tangshan billet stocks in 3.5 months
Sep 21, 2020 14:43
See Full-size Table Here
Last week, billet stocks held by traders in Tangshan, China’s top steel producing city in North China’s Hebei province, declined for the first time since the end of June, though only by 3.5% on week, according to Mysteel’s latest weekly survey. Steel re-rollers in the city, the major consumers of the local billets, had largely resumed normal production after a ban restricting their production had been lifted from September 8.
Billet inventories at 14 Tangshan trading houses and at Caofeidian and Jingtang ports reversed down by 26,200 tonnes or 3.5% on week to 722,900 tonnes as of September 17, after these had swollen for 14 consecutive weeks, the latest survey showed.
“The operation rate of steel re-rollers is climbing fast,” a