Demand and prices for steel billet in China were likely to be affected by new restrictions on re-rolling activity in the major production hub of Tangshan, sources have told Fastmarkets.
Curbs on blast furnace-based sintering in Tangshan, together with solid demand for long steel products, has driven up billet consumption at some mills and re-rollers in the city this year. That has resulted in the purchase of large volumes in both the import and Chinese local markets.Heating ovens at Tangshan's re-rollers are fueled by either electricity or gas. Gas-powered...