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

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Billet prices in Tangshan fell by RMB 30/t ($4/t) to RMB 2,900/t ($406/t) d-o-d on 23 Aug’24. Prices include 13% VAT.
Volatility in raw material, finished steel prices, rebar futures along with lower trade have weighed on billet prices.
SHFE rebar futures (Oct’24 delivery) decreased by RMB 20/t ($3/t) to RMB 3,154/t ($442/t) d-o-d on 23 Aug’24.

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