Extended rolling mill closures smash China steel billet prices

Reduced operations at steel rerolling mills in several key cities across China have hurt prices for steel billet in China's local and import markets, sources said on Thursday October 21.

The northern Chinese steelmaking hub Tangshan ordered rerolling mills in its Fengrun district to suspend production from October 21 to 31 to improve air quality, market participants told Fastmarkets.
The production stoppage will reduce demand for steel billet in the country because the Fengrun district houses most of Tangshan's rerollers, market sources said.
Tangshan billet prices dipped on Thursday because of these measures.

Fastmarkets' price assessment for steel billet domestic, exw Tangshan, Northern China was 5,170 ($808) yuan per tonne on October 21, down by 50 yuan...

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