China: Steel billet prices stable, rebar futures fall

Steel billet prices in China’s Tangshan remained stable at RMB 3,630/t ($539/t), inclusive of 13% VAT on 29 July. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Oct’22 delivery closed today at RMB 3,996/t ($593/t), witnessing a sharp fall of RMB 62/t ($9/t), d-o-d.