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WEEKLY: Tangshan billet price nears 2-month low

ABSTRACT

As of May 13, the price of Q235 150mm square billet in Tangshan in North China's Hebei province, the country's largest steel production hub, had dropped by Yuan 100/tonne ($14.7/t) or 2.1% on week to hit a near two-month low of Yuan 4,660/t EXW including the 13% VAT, according to Mysteel's assessment. The decline was mainly due to the tepid demand and weaker cost support, sources observed.
"The re-rollers reduced their procurement of billet in response to the negative margins they were suffering on sales, and small-sized rolling mills in some areas suspended production because the workers were in quarantine," an analyst based in Tangshan noted.   Billet consumption among the 55 re-rollers in Tangshan tracked by Mysteel averaged

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