China: Steel billet prices slide RMB 50/t ($7/t) d-o-d

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Domestic billet prices in China’s Tangshan fell by RMB 50/t ($7/t) d-o-d to RMB 3,510/t ($484/t), inclusive of 13% VAT on 28 Oct’22.
Bearish sentiments and declining rebar futures, prices of finished steel and iron ore have weighed on billet prices.
China’s SHFE rebar futures for Jan’23 delivery closed today at RMB 3,490/t ($481/t), a sharp fall of RMB 73/t ($10/t), d-o-d.

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