WEEKLY: Tangshan billet price surges $49/t on week

Billet prices in Tangshan in North China's Hebei province increased substantially during the week of September 23-29, in sync with the strengthening of rebar futures prices, according to Mysteel's weekly survey. Ferrous derivatives throughout China have generally been given a boost by Beijing's newly announced heavyweight macroeconomic measures, as reported.

As of September 29, the price of Q235 150mm square billet in Tangshan, a bellwether of domestic steel-market sentiment, had jumped by a large Yuan 340/tonne ($48.5/t) on week to Yuan 3,200/t EXW and including the 13% VAT, Mysteel's assessment showed. The rise in semis prices helped to ease local