Chinese steelmakers said their losses on billet sales eased last week as a rise in semi product prices pushed production costs higher. As a result, daily billet production among the 30 steel producers in Tangshan decreased by 9,500 tons per week and decelerated to 36,500 tons, a three-month low, during the same period.
As for the demand for billets, the daily consumption of billets in Tangshan has decreased by 20,800 tons per week. October 26 - November 1, the average decelerated to 33,000 tons, thus falling to the lowest level in the last three months.
The sale of semi-finished products accelerated with the use of rollers. Total billet stocks at its four commercial warehouses and two ports in Tangshan rose by 66,500 tons in the week to November 2, reaching a seven-month high of 1.22 million tons.
Additionally, stocks of billet in 55 cylinders increased by 64,000 tons in the third week, reaching a nearly three-month high of 447,700 tons on October 1.
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