Chinese Domestic Steel Market Update, 9 Jul'19

Billet: In early trading today, the price of section steel grew strong, and the billet rose by RMB 30/MT, to see some local mills and some in Changli area offered at RMB 3,650/MT, cash including tax. Echoing upward steel future is boosting trading enthusiasm and transactions significantly. In afternoon, heavy rain cooled down the trading enthusiasm and transactions slowed down. On the whole, the transactions today have been good. It is expected that the section steel price will remain stable in tomorrow.