Steel billet prices in China’s Tangshan fell by RMB 70/t ($10/t) on 24 May 2022 amid a sharp fall in rebar futures and weakening demand due to the approaching monsoon season. Prices stood at RMB 4,470/t ($671/t), inclusive of 13% VAT. According to SteelMint’s data, China’s SHFE rebar futures contract for October 2022 delivery was closed today at RMB 4,468/t ($670/t), down by RMB 136/t ($20/t), d-o-d.
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