China: Steel billets prices fall d-o-d by RMB 60/t ($8/t)

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Domestic billets prices in China’s Tangshan fell d-o-d by RMB 60/t ($8/t) to RMB 3,450/t ($472/t), inclusive of 13% VAT on 31 Oct’22.
Falling futures and finished steel prices continued to weigh on the domestic billets prices, SteelMint noted.
China’s SHFE rebars futures contract for Jan’23 delivery closed today at RMB 3,397/t ($465/t), a sharp fall of RMB 93/t ($13/t) d-o-d.

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