Posted on 18 Nov 2025
Billet prices in Tangshan in North China's Hebei province recovered slightly over November 10-16 after their drop the previous week, with Mysteel assessing the price of Q235 150mm square billet in the city some Yuan 20/tonne ($3/t) higher on week at Yuan 2,950/t EXW including the 13% VAT on November 16.
Daily billet output among the 22 local steelmakers Mysteel follows rose for a second week as some mills resumed operations during the week, according to Mysteel's weekly report. The average came in at 38,800 tonnes/day over November 7-13, up by 18.3% or 6,000 t/d on week.
Most re-rollers in Tangshan also restarted operations after production curbs had been lifted on November 8, as reported. As a result, daily billet consumption among the 34 local re-rollers under Mysteel's coverage surged by 41.8% or 8,900 t/d on week to average 30,200 t/d over November 6-12.
The production resumption of re-rollers also prompted them to replenish billet, especially low-priced cargoes, to meet their immediate production needs, according to the weekly report.
As of November 12, billet inventories held by the 34 re-rollers stood at 623,100 tonnes, mounting by a significant 14.2% or 77,600 tonnes on week.
Meanwhile, billet stocks at the four commercial warehouses and two ports in Tangshan that Mysteel tracks had totalled 1.24 million tonnes as of November 13, retreating by a small 2.5% or 31,600 tonnes on week.
The rebound in billet prices eased the steelmakers' losses from billet sales slightly. As of November 14, the 22 mills in Tangshan that Mysteel regularly monitors were losing Yuan 133/t on average, narrowing from the Yuan 141/t loss during the previous week.
On the other hand, the per-tonne costs of billet production for those mills averaged Yuan 3,083/t over November 8-14, edging up by a minimal Yuan 2/t on week, according to Mysteel's assessment.
Billet prices in Tangshan are expected to be rangebound over November 17-23. Although billet fundamentals may continue to recover amid lower billet output and higher billet consumption, demand for finished steel is seen remaining subdued, which may lead the re-rollers to consume more of the billets they have on hand instead of procuring more.
Source:Mysteel Global
