Chinese Domestic Billet Prices Inch Up

Yesterday, the general carbon steel billet in Tangshan, Changli and Qian'an was stabilized at RMB 3, 400/MT ex-factory including tax. In the early morning today, the price of the same in Changli area takes lead by increasing RMB 20 to report at RMB 3,420/MT . The billet market is active, and prices of the finished products slightly rose. The specific transactions are as follows:

Billet: Mill direct sale is acceptable while warehoused spot is around RMB 3,510 , including tax, with acceptable transaction volume. The overall transaction on finished product is stable though certain market is still weak . It is expected that the billet might go up in the afternoon.

Construction Steels: The mainstream resources in the market is stable, Now the rebar HRB400 of big size is at RMB 3,730, small size at RMB 3,770,while coiled rebar at RMB3,780. The transaction is lack-luster.

Section steel: Section steel in Tangshan is getting stronger ,with some low-cost resources moving up. Now the mainstream spot price of H steel is at RMB 3,780, angle at RMB3,750-3,770, channel at RMB3,780-3,800. The transaction on low priced resources is active, and the overall transaction is smooth. Until 10:30am today, of the 16 mills being tracked in Tangshan, the sales totaled 30,700 tons, an increase of 124% compared with yesterday, of which 5mills sold 9,500 tons of I beams, 5 sold 6,800 tons of channels, and 6 sold 14,400 tons of angles.

HRC: Market stands still in wait-and-see atmosphere. Now 3.0mm coils is at RMB 3,620/MT 5.5mm mainstream flattened offered at RMB 3,600, Q345 flattened at RMB 3,760/MT