Steel billet prices in China’s key steel market of Tangshan remained stable at RMB 4,900/t ($766/t) on 1 Nov’21, inclusive of 13% VAT. According to data maintained with SteelMint, China’s rebar futures contract for Jan’22 delivery at the Shanghai Futures Exchange (SHFE) closed today at RMB 4,509/t ($705/t), a sharp drop of RMB 137/t ($21/t) compared to 29 Oct’21.
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