Chinese Domestic Billet Market Update; 22 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, stable; Today, steel mills in Changli offers at RMB 3,070/MT, down RMB 30. Transactions on billets are modest while prices of finished steel incline to dip. Mill direct dispatch is smooth. 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 totaled 517,500 MT, down 9,500 MT from a day earlier. The prices of finished steel turned downward with overall weak transactions. Billet price in the afternoon is at a locked price.