China: Steel billet prices fall by RMB 30/t ($4)

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Billet prices in Tangshan fell by RMB 30/t ($4/t) to RMB 3,150/t ($434/t) on 29 Jul’24 against 26 Jul. Prices include 13% VAT.
Drop in finished steel prices, rebar futures and higher port inventories weighed on billet prices.
Meanwhile, SHFE rebar futures (Oct’24 delivery) decreased by RMB 8/t ($1/t) to RMB 3,363/t ($463/t) on 29 Jul against 26 Jul.

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