Steel billet prices in China’s Tangshan fell by RMB 50/t ($7/t) to RMB 3,660/t ($522/t), inclusive of 13% VAT, on 16 Sep’22. The volatility in rebar futures and drop in finished steel prices owing to weak demand have pulled down billet prices. China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,686/t ($526/t), a decrease of RMB 36/t ($5/t), d-o-d.
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