China: Steel billets prices drop on sharp decline in rebar futures

Steel billets prices in China’s Tangshan decreased by RMB 40/t ($6/t) on 22 Apr’22 following a sharp fall in rebar futures. Prices stood at RMB 4,790/t ($737/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE re-bar futures contract for Oct’22 delivery closed today at RMB 4,964/t ($763/t), witnessing a sharp fall of RMB 94/t ($14/t), d-o-d.