China: Steel billet prices edge down by RMB 10/t ($1/t)

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Billet prices in Tangshan inched down by RMB 10/t ($1/t) to RMB 3,260/t ($448/t) on 22 Jul’24 against 19 Jul. Prices include 13% VAT.
Lower demand as well as negative market sentiments from raw material and finished steel prices have weighed on billet prices.
Meanwhile, SHFE rebar futures (Oct’24 delivery) dipped RMB 28/t ($4/t) to RMB 3,451/t ($474/t) on 22 Jul against 19 Jul.

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