China: Steel billet prices fall by RMB 80/t ($12/t)

Steel billet prices in China’s Tangshan decreased by RMB 80/t ($12/t) on 9 May’22 following a sharp fall in rebar futures. Prices stood at RMB 4,680/t ($697/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 4,654/t ($693/t), witnessing a sharp fall of RMB 80/t ($12/t), d-o-d.