04
Dec
08:13
Tangshan billet restocking struggles to counteract weak fundamentals
Restocking demand from rerollers and the month-end delivery demand from traders has supported the Tangshan billet market.
Social inventories finally reduced after two weeks' of building up. However, some rerollers' production has been suspended again since 3 December due to heavy air pollution in Tangshan. As a result, billet fundamentals, overall, remain weak.
Tangshan billet prices dropped CNY 40/tonne ($5.6/t) on-week to CNY 3,680/t on 4 December whil…
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Anonymous
Very good overview of the weekly steel market.
Anonymous