Tangshan billet survey
Under the current slight adjustment of the supply and demand structure, although the profits of production and sales of downstream rolling mills have further narrowed, they still maintain a high operating rate.
In terms of inventory structure, downstream steel rolling companies have lower sentiment for purchasing billets, mainly receiving straight billets from blast furnace plants. The cautious spot trading has led to a slowdown in billet inventories. It is difficult for the finished product inventory in the factory to quickly reduce stocks under the current cautious trading sentiment.
However, the limited production of environmental protection in the Tangshan area has been restarted, but the specific implementation status still needs to be tracked.
Based on the current fundamentals and news, it is expected that the billet prices will be adjusted within a short period of time.