Chinese Domestic Billet Price Update, 10 Dec'19

Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan and Changli was settled at RMB 3,440/MT, stable; today, steel market run stable and overall transactions on billet is moderate while price of finished steel is largely stable, though certain categories inched up. Mill direct sales are somewhat weak. The ex-warehouse spot price is offered at around RMB 3,530-3,540/MT tax-included with some transactions. The billet inventory at warehouses of Xianggu Zhengfeng and Haiyi Hongrun is 77,100 MT, up 3,600 MT from last day. The overall transactions on finished steel is plain and it is expected that billet price in the afternoon may slip by RMB 10.