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Chinese Domestic Billet Market Update, 09 May'20

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BigMint Bureau

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9 May 2020, 13:26 IST

Chinese Domestic Billet Market Update, 09 May'20

Yesterday the ex-mill, tax-inclusive price of general carbon square billet 150*150mm in Tangshan, Changli, and Qian'an was settled at RMB 3,140/MT, up RMB 10; today, steel market in Changli remain stable to report RMB 3,140/MT. Overall transactions on billet were modest, and the price of finished steel tends to dim. Mill's direct dispatch is smooth. The warehouse spot is mainly offered at around RMB 3,230-3,240/MT tax inclusive amid hesitant sentiments. The billet inventory at warehouses of Xiangyu Zhengfeng, Hairun Hongyi, and Wuchan Zhenxiang totaled 344,000 MT, down 19,200 MT from the level of a day earlier. The price of finished steel tends to weaken amid overall weak transactions. Billet price this afternoon will remain unchanged.