Steel billet prices in China’s Tangshan witnessed a sharp d-o-d fall of RMB 100/t ($16/t) on 27 Dec’21. Domestic billet prices stood at RMB 4,290/t ($673/t), inclusive of 13% VAT. Weak finished steel sentiments, modest trading and a sharp drop in re-bar futures weighed on domestic prices. According to data maintained with SteelMint, China’s SHFE re-bar futures contract for May’22 delivery closed today at RMB 4,307/t ($676), a sharp fall of RMB 212/t ($33/t), d-o-d.
Leave a Reply