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11 Jun

Tangshan billet market remains dubious after the holiday

Speculative sentiment was dull in the Tangshan billet market after the Dragon Boat Festival amid falling futures. Some rerollers bought cheap billets hand-to-mouth. Spot Tangshan billet was assessed on Tuesday afternoon at CNY 3,450/tonne ($475.6/t), down CNY 70/t compared to last Monday. Meanwhile, the October rebar contract on the Shanghai Futures Exchange (SHFE) closed at CNY 3,597/t, down CNY 68/t. Forward billets were offered at CNY -145/-140 discounts to SHF…
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