Chinese Domestic Billet Market Update, 20 Dec'19

Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan and Changli was settled at RMB 3,340/MT, stable; today, steel market tends to stabilize and overall transactions on billet is general while price of finished steel is largely stable, though certain resources hiked. Mill direct sales are smooth. The ex-warehouse spot price is offered at around RMB 3,420-3,430/MT tax-included with a few transactions. The billet inventory at warehouses of Xianggu Zhengfeng and Haiyi Hongrun is 142,500 MT, up 1,000 MT from last day. The transactions on finished steel is average and it is expected that billet price in the afternoon may remain stable.