During Dragon Boat Festival, the ex-works price of section steel in Tangshan market fell by 10 yuan/t. At present, Zhengfeng Steel quoted offers for 50 angle steel and 16# channel steel separately at 3,210 yuan/t and 3,210 yuan/t; Xinyiyuan Steel quoted offers for 16# I-beam at 3,210 yuan/t.

The steel strip price decreased by 10 yuan/t, of which the narrow strip was 3,130 yuan/t, the medium strip was 3,050-3,060 yuan/t, and wide strip was 3,080 yuan/t.

Reports indicated that current transactions in Tangshan market were moderate. Prices for section steel and strip steel showed signs of softening, and it was difficult to close deals at higher prices.

Downstream end-users maintained a strong wait-and-see attitude, and overall trading activity was weak. It was expected that prices for medium and large section steel in the Tangshan market would drop amid stability this week.

During Dragon Boat Festival, the ex-works price of common carbon billet in Tangshan market fell by 20 yuan to 2,880-2,890 yuan/t. Spot resources was 2,950 yuan/t with sluggish transactions. In the short term, billet market prices are expected to trend weakly.

It is expected that this week (June 9-13), China’s steel and billet market prices will show a volatile trend; scrap and coking coal market prices will go down steadily; imported ore and coke market prices will run weakly.