Chinese Domestic Billet Prices Remain Stable in Early Trade Sessions

Yesterday, the ex-factory price of general carbon billet in Tangshan, Changli and Qian'an stabilized at RMB 3,600/MT, remained stable due to production limit news. Today, the steel market is weak with transactions on billet tepid, and the prices of finished products are in disarray. The specific transactions are as follows:

Construction steel: The mainstream price of construction steel in Tangshan rose RMB 10/MT and the current market price of rebar HRB400 of big specification is at RMB 3,950/MT small specification at RMB 4,050, while coiled rebar at RMB 4,110. The transactions improved.

HRC: The price of hot-rolled flat sheet dropped by RMB10/MT and price of 1,500mm wide flat sheet of general carbon by first-tier mills is at RMB3,930, the second-tier mills at RMB3,920, and the Q345 flat sheet is RMB4,090. Transactions have been good.

Billet: The billet inventory at warehouses of Xiangyu Zhengfeng and Haiyi Hongrun were 341,400 tons, down 12,100 tons. The overall sales of finished products are weak, and it is expected that the billet will drop by RMB20-30 in the afternoon.