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Chinese Domestic Billet Market Update, 21 Apr'20

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BigMint Bureau

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21 Apr 2020, 10:16 IST

Chinese Domestic Billet Market Update, 21 Apr'20

Yesterday the ex-mill, tax-inclusive price of general carbon billet in Changli and Qian'an was settled at RMB 3,100/MT, up RMB 10; Today, the market in Changli is implementing fixed price at RMB 3,100/MT for both today and tomorrow. Transactions on billets are modest while prices of finished steel weakened. Mill direct dispatch is modest. The warehouse spot is mainly offered at RMB 3,150/MT tax-inclusive with some cautious transactions. The billet inventory at warehouses of Xiangyu Zhengfeng, Haiyi Hongrun, Wuchan Zhenxiang, and Sumec Xincheng totaled 527,000 MT, down 8,600 MT from a day earlier. The prices of finished steel turned downward with overall weak transactions. Billet price in the afternoon will be at a locked price.