WEEKLY: Rising demand sends Tangshan billet prices higher

The Q235 150mm square billet price in Tangshan, China's leading steel-producing city in North China's Hebei province, increased further by Yuan 30/tonne ($4.2/t) on week to Yuan 3,660/t EXW and including the 13% VAT as of November 19, according to Mysteel's assessment, buoyed by resilient consumption among re-rollers and positive macroeconomic news, survey respondents said.

"Regarding billet fundamentals, the growth in demand has outpaced that of supply," one respondent pointed out. Indeed, total billet consumption among the 55 re-rollers in Tangshan under Mysteel's tracking increased for the second week during November 9-15, rising by 3,400 tonnes/day on week to hit a two-month high of