China: Steel billets prices fall by RMB 80/t ($11/t)

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Domestic billets prices in China’s Tangshan fell by RMB 80/t ($11/t) to RMB 3,730/t ($535/t), inclusive of 13% VAT on 19 Dec’22.
Weak demand, a sharp fall in futures, and finished steel prices have pulled down billets prices.
China’s SHFE rebars futures contract for May’23 delivery closed today at RMB 3,927/t ($563/t), a decrease of RMB 122/t ($17/t) as against the closing on 16 Dec.

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