27
May
09:34
Demand struggles in Tangshan billet market
Sentiment in the Tangshan billet market is subdued due to sluggish demand. Rerollers are cautious in restocking due to negative rerolling margins, while traders who need to deliver billet in May have mostly closed their positions.
Spot Tangshan billet was assessed on Monday afternoon at CNY 3,610/tonne ($498/t), up CNY 20/t on-week. The October rebar contract on the Shanghai Futures Exchange (SHFE) meanwhile closed at CNY 3,763/t, up CNY 28/t. One main supplier li…
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Anonymous
Very good overview of the weekly steel market.
Anonymous