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

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Domestic billets prices in China’s Tangshan remained stable for the second consecutive day at RMB 3,620/t ($501/t), inclusive of 13% VAT on 20 Oct’22.
Drop in futures and finished steel prices have weighed on the domestic billets prices.
China’s SHFE rebars futures contract for Jan’23 delivery closed today at RMB 3,594/t ($497/t), a fall of RMB 53/t ($7/t) d-o-d.

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