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Weekly Overview of Billet Market in China during Feb 20-26, 2010
This week billet market had posted on the upside. In Tangshan, after three consecutive days' of rise, billet price went up by 80 yuan/ton. Impacted by the uptrend in Tangshan, other areas in north China had also seen billet price edging up. However, the market as a whole remained quiet, for there was still no substantial recovery in downstream demand. Billet producers were mainly producing for orders struck before the spring festival.
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Weekly Overview of Billet Market in China during Feb 1-5, 2010
This week billet market remained flat under a wait-and-see sentiment, at a time when the spring festival was only a week ahead. A minor adjustment was seen in certain areas, of 30-50 yuan/ton. There was in reality no demand in the steel market at this time of the year, and steelmakers and dealers were all preparing to go for the holiday. This makes any adjustment of billet prices meaningless. It is predicted that billet market will sustain the flat state in short term.
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Weekly Overview of Billet Market in China During Jan 25-29, 2010
This week China's billet market as a whole fell into the downtrend, with billet price dropping by 20-80 yuan/ton and trade being thin. Demand for billet remained weak in north China, where the downstream had been burdened by increasing stock of construction steel.
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