China: Steel billets prices fall by RMB 50/t ($7/t) d-o-d

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Domestic billets prices in China’s Tangshan fell for the second consecutive day by RMB 50/t ($7/t) to RMB 3,810/t ($565/t), inclusive of 13% VAT on 1 Feb’23.
A significant decline in futures and finished steel prices have weighed on billets prices, SteelMint noted.
China’s SHFE rebars futures contract for May’23 delivery closed today at RMB 4,084/t ($606/t), a decrease of RMB 59/t ($9/t) d-o-d.

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