China: Downtrend in billet prices continues on falling rebar futures

Steel billet prices in China’s Tangshan fell by RMB 50/t ($7/t) on 14 Jun’22. Prices stood at RMB 4,380/t ($650/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 4,617/t ($685/t), witnessing a sharp fall of RMB 74/t ($11/t), d-o-d.