China: Steel billet prices fall by RMB 40/t ($6/t)

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Billet prices in Tangshan fell by RMB 40/t ($6/t) to RMB 2,860/t ($399/t) on 16 Aug’24 against 14 Aug. Prices include 13% VAT.
Drop in finished steel prices, rise in inventory levels due to low demand have weighed on billet prices.
SHFE rebar futures (Oct’24 delivery) decreased by RMB 21/t ($3/t) to RMB 3,078/t ($430/t) on 16 Aug against 14 Aug.

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