China: Steel billet prices drop further by RMB 40/t ($6/t) d-o-d

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Billet prices in Tangshan decreased by RMB 40/t ($6/t) to RMB 2,760/t ($389/t) d-o-d on 6 Sep’24. Prices include 13% VAT.
Weak market sentiments from raw material, finished steel prices and low demand have weighed on billet prices.
Meanwhile, SHFE rebar futures (Jan’25 delivery) fell sharply to RMB 3,026/t ($427/t).

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