China: Steel billet prices down RMB 20/t ($3/t) d-o-d

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Domestic billets prices in China’s Tangshan fell d-o-d by RMB 20/t ($3/t) to RMB 3,470/t ($478/t), inclusive of 13% VAT on 10 Nov’22.
A drop in futures and finished steel prices weighed on domestic billets prices, SteelMint noted.
China’s SHFE rebars futures contract for Jan’23 delivery closed today at RMB 3,538/t ($488/t), a decrease of RMB 52/t ($7/t) d-o-d.

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