Chinese Domestic Billet Market Update, 04 Sep'19

Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli and Qian'an was settled at RMB 3,350/MT, up RMB 20; in the morning session today, Changli area spotteda gain of RMB 10 to RMB 3,360/MT. Transactions on billet were smooth after price uptick while price of finished steel mainly trended up. Mill direct sales are smooth. The ex-warehouse spot price is offered at RMB 3,430-3,440/MT tax-included with some transactions. The billet inventory at warehouses of Xianggu Zhengfeng and Haiyi Hongrun is 395,900 MT, down 7,200 MT from yesterday. The overall transactions on finished steel are smooth and active on some resources and it is expected that billet price in the afternoon may stay stable or go up.