Major eastern China producers of round billet have cut their list prices by Yuan 70/mt ($10/mt) for May 11-20 sales, after four consecutive rollovers, market sources said Monday.
Prices for No. 20 50-130 mm rounds from Zenith Steel Group and Changqiang Iron & Steel -- major producers in Jiangsu province – fell to Yuan 4,320/mt ($629/mt) and Yuan 4,270/mt, respectively, ex-works including value added tax, down Yuan 70/mt from May 1-10.
Huaigang Special Steel -- another major supplier of round billet based in Jiangsu -- said it would cut its ex-works price for semis to Yuan 4,340/mt for May 11-20 sales, ex-works and including VAT, also down by Yuan 70/mt.
On Monday, offers in Shanghai’s retail market for grade No. 20 219x6 mm (GB/T 8163) seamless pipes sourced from mills in eastern China were around Yuan 4,650-4,700/mt ex-works, including VAT, flat from last week after the Labor Day holidays, according to local traders.
-- Dai Yuelin
source : SteelBB