WEEKLY: Tangshan billet prices trend downwards

Billet prices in Tangshan in North China's Hebei province declined during the week of October 28-November 3 in tandem with softening rebar futures prices. Meanwhile, both billet demand and production weakened last week, and the destocking pace of total billet inventories also slowed down, the results of Mysteel's weekly survey indicate.

As of November 3, the Tangshan Q235 150mm square billet price was lower by Yuan 70/tonne ($9.9/t) on week at Yuan 3,110/t EXW and including the 13% VAT, according to Mysteel's assessment. Daily billet consumption among the 44 steel re-rollers in Tangshan under Mysteel's tracking decreased for a second week