China: Steel billet prices stable d-o-d, rebar futures edge lower

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Domestic billet prices in China’s Tangshan remained stable d-o-d at RMB 3,650/t ($507/t), inclusive of 13% VAT on 17 Oct’22.
Weak demand amid steel production restrictions and subsequent drop in finished steel prices have affected billet prices.
China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,675/t ($510/t), a fall of RMB 84/t ($12/t) against the closing on 14 Oct.

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