Chinese Domestic Billet Prices Update, 31 Dec'19

Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan and Changli and was settled at RMB 3,300/MT, down RMB 10 while the same in Qian'an was settled at RMB 3,310/MT; today, price by local mills and some in Changli are fixed at RMB 3,300/MT, which will be new year's day price also. Transactions on billet are plain on the whole, while prices of finished steel incline to be stabilized. Mill direct sales are smooth. The ex-warehouse spot price is offered at around RMB 3,400/MT tax-included with some transactions on low cost resources. The billet inventory at warehouses of Xianggu Zhengfeng and Haiyi Hongrun is 144,000 MT, down 2,200 MT from previous day. The price of some finished steel slipped by RMB 10 with transactions on the whole being weak. Price of general carbon square billet during 31 Dec'19 and 2 Jan'20 will be fixed at RMB 3,300/MT.