Price of billet on Tangshan market kept falling since Monday, down by 30 yuan/t to 3540 yuan/t from last Sunday.
On Tuesday, the strike price for Tangshan billet on spot trading was 3600 yuan/t, with slack transactions on the overall market. Though the demand for billet was increasing, due to the reactivating production in downstream rolled metal companies, steel makers were inactive in purchasing billet, due to the poor shipments in finished products and decreasing profits in steelmaking. For sellers, they were pessimistic about the overall market.
It is expected that the billet market in China may run at a relatively low level in the near term.
(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837) |
