China: Steel billet prices drop by RMB 50/t ($7/t)

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Billet prices in Tangshan fell by RMB 50/t ($7/t) to RMB 3,290/t ($453/t) on 24 Jun’24 against 21 Jun. Prices include 13% VAT.
Decline in raw material, finished steel prices, rebar futures and low demand have weighed on billet prices.
SHFE rebar futures (Oct’24 delivery) decreased by RMB 31/t ($4/t) to RMB 3,532/t ($487/t) on 24 Jun against 21 Jun.

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