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WEEKLY: Downtrend in Tangshan billet price slows

ABSTRACT

The Q235 150mm square billet price in Tangshan, China top steel producing city, continued to soften last week, falling Yuan 90/tonne ($14/t) on week to Yuan 4,200/t EXW and including the 13% VAT as of last Friday, according to Mysteel's assessment. The pace of the decline was slower than the Yuan 610/t rout over the prior week, however.
"The market showed signs of stabilizing or even rebounding late last week," remarked an industry source based in Tangshan. "Mills have been trying hard to reverse the loss-making situation by lowering their production costs while shoring up the billet prices," he said.   The mills' aggressiveness in cutting procurement prices of raw materials

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