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DAILY: Tangshan billet price gains $12/t over holiday

ABSTRACT

As of October 7, Tangshan Q235 150mm square billet price, the barometer of China’s spot steel market sentiment, touched its 4.5-month high of Yuan 5,290/tonne ($821/t) EXW and including the VAT after gaining Yuan 80/t from September 30 despite that the country was on National Day holiday over October 1-7, Mysteel's assessment showed.
Local steel re-rollers in Tangshan, North China’s Hebei province, have been allowed to resume operations during the holiday, as the city government lifted the restriction on power supply, though local re-rollers appeared inactive in procuring the semis on its rising prices and uncertainties in the finished steel demand, Mysteel Global

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