Chinese Domestic Billet Prices Fall

Billet: Yesterday the ex-mill tax inclusive price of general carbon billet in Tangshan, Changli and Qian'an was settled at RMB 3,000/MT. Today, steel market tends to stabilize with weak transactions on billet on the whole while prices of finished steels trends down with few offers due to most are still in shutdown. Mill direct delivery are weak and price is offered around RMB 3,070/MT, delivered. The warehouse spot is mainly offered at RMB 3,080-3,090/MT tax inclusive amid cautious sentiments. Transactions on finished steel are weak on the whole and it is expected that billet price in the afternoon may remain stable.