29
Jul
11:07
Tangshan billet market remains in oversupply
Rerollers in Tangshan saw finished steel inventories grow after they increased capacity utilisation. The weak finished steel market also triggered mills to allocate more hot metal to billet production, adding to supply pressure.
The spot price of Tangshan billet was assessed at CNY 3,220/t ($444/t) on Monday afternoon, down CNY 90/t on-week. The October rebar contract on Shanghai Futures Exchange (SHFE) meanwhile dropped CNY 88/t. Forwards billet for August and Se…
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Anonymous
Very good overview of the weekly steel market.
Anonymous