WEEKLY: Tangshan billet prices drop further

The price of Q235 150mm square billet in Tangshan in North China's Hebei province under Mysteel's assessment had declined by another Yuan 90/tonne ($12.4/t) on week to sit at Yuan 3,300/t EXW and including the 13% VAT as of June 23. The enthusiasm of local re-rollers for buying the semis was constrained as many were on the brink of just breaking even amid tepid sales of finished steel, according to the weekly survey.

However, survey respondents said that some re-rollers in Tangshan resumed production after their losses on finished steel sales had eased last week. Over June 13-19, daily billet consumption among the 48 local re-rollers that Mysteel monitors jumped by 21,800 tonnes/day on week to nearly a 1.5-month high of 54,500