China producers cut round steel billet prices for April 21-30

Major producers of round steel billet in eastern China announced on Tuesday they will reduce their list prices by up to Yuan 80/mt ($11/mt) for April 21-30 sales.

Zenith Steel Group and Changqiang Iron & Steel -- major producers in Jiangsu province -- both announced a reduction of Yuan 50 in their prices of No. 20 50-130 millimeter rounds, to Yuan 3,700/mt and Yuan 3,650/mt, respectively, ex-works, including 13% value-added tax.

Huaigang Special Steel, another major supplier of round billet based in Jiangsu, cut its price for semi-finished products by Yuan 80 to Yuan 3,650/mt for April 21-30 sales, ex-works and including VAT.

These mills have cut their prices for the third time this month by a total of Yuan 300-330/mt.

Tuesday's offers on the Shanghai retail market for grade No. 20 219x6 mm (GB/T 8163) seamless pipe sourced from mills in East China were around Yuan 4,350/mt ex-works including VAT, stable from 10 days earlier, local traders said.

-- Jia Hong, Analyst Yuelin Dai