WEEKLY: Tangshan billet prices retreat $18/t WoW

Billet prices in Tangshan in North China's Hebei province experienced a downward correction over February 19-25 as prices were dragged south by the slides in ferrous futures prices, according to Mysteel's weekly survey. However, survey respondents pointed out that local re-rollers had gradually resumed operations last week and this resulted in their demand for billets increasing.

By February 25, the Tangshan Q235 150mm square billet price had lost Yuan 130/tonne ($18.1/t) on week to reach Yuan 3,520/t EXW and including the 13% VAT, according to Mysteel's assessment. Meanwhile, daily billet consumption among the 55 re-rollers in Tangshan under Mysteel's tracking during February 15-21 soared by some