Steel billet prices in China’s Tangshan fell to RMB 4,900/t ($766/t) on 27 Oct’21, which includes 13% VAT, down by RMB 60/t ($9/t) d-o-d . SteelMint data shows that China’s rebar futures contract for Jan’22 delivery at the Shanghai Futures Exchange (SHFE) closed at RMB 4,655/t ($728/t) today, a sharp d-o-d drop of RMB 262/t ($41/t), after rising by RMB 92/t (14/t) on 26 Oct.
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