China: Steel billet prices head south on sharp decline in rebar futures

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Domestic billet prices in China’s Tangshan fell by RMB 40/t ($6/t) to RMB 3,750/t ($549/t), inclusive of 13% VAT on 13 Feb’23.
A decline in futures and finished steel prices weighed on billet prices, SteelMint noted.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 3,993/t ($585/t), a sharp fall of RMB 81/t ($12/t) as against the closing on 10 Feb’23.

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