Chinese Domestic Steel Market Update, 4 Jul'19
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Billet: Yesterday, the ex-factory price of general carbon billet in Tangshan and Changli was settled at RMB 3,630/MT down RMB 40, while the same in Qian'an was at RMB 3,630/MT down RMB 50. Today, the steel market grows strong and billet transaction was good after upswing of RMB 30 in the morning to RMB 3,660/MT. The prices of finished steel are in disarray. Mill direct sales are passable. The ex-warehouse spot is offered at RMB 3,730-3,740/MT tax-inclusive with some transactions on low-price resources; the billet inventory at three major warehouses is 447,100 MT, down 4,000 MT, which is the first decline from 10th Jun. The price of finished steel went down slight with some rebounded in overall active trading atmosphere.
