China: Domestic Billet Prices Fall in Early Trading Sessions

Yesterday the ex-factory price of general carbon billet in Tangshan, Changli and Qian'an areas lowered by RMB 20/MT to RMB 3, 450/MT. Today's performance of billet trading is average and finished steel prices are in disarray. The specific transactions are as follows:

Billet: Mill direct sales were as regular. Ex-warehouse spot is at RMB 3, 510/MT tax-included, with some transactions on low cost resources. The billet inventory at warehouses Xiangyu Zhengfeng and Haiyi Hongrun totaled 734,500 tons, down 25,200 tons. And the overall trading of finished products is acceptable. It is expected that the billet will hold steady or increase by RMB 10/MT in the afternoon.

HRC: Tangshan Hot Roll Market sits in waiting state with price of 3.0mm coils standing at RMB 3,810/MT mainstream 5.5mm flattened at RMB 3, 790, Q345 flattened at RMB 3, 950/MT. The transaction was positive.

Medium plate: The price of Tangshan medium plate is temporarily stable, and now the mainstream price of general carbon plate 14-22mm is at RMB 3, 940/MT, and the low alloy plate is at RMB 4, 140/MT. The transaction is general.

Construction steel: Tangshan construction steel market price is temporarily stable, and the current market price of rebar HRB400 of big specification is reported at RMB 3, 910/MT, small specification at RMB 3, 970/MT, up RMB 20/MT while coiled rebar at RMB 4, 020/MT. The transaction turns better.