WEEKLY: Tangshan billet prices rebound, but demand wanes

Billet prices in Tangshan in North China's Hebei province recovered over June 26-July 2 from the previous week's drop, driven mainly by the improving sentiment in domestic ferrous market, Mysteel Global learned. Local re-rollers' demand for the semis weakened during the survey period, however.

As of July 2, Mysteel's assessment of the Q235 billet price in Tangshan had risen by Yuan 70/tonne ($9.7/t) on week to reach Yuan 3,540/t EXW and including the 13% VAT, and the price increase allowed billet makers to enjoy wider margins on producing and selling the semis. The average