China: Steel billet prices decline by RMB 80/t ($11/t) d-o-d

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Billet prices in Tangshan declined sharply by RMB 80/t ($11/t) d-o-d to RMB 3,230/t ($457/t) on 9 Oct’24. Prices include 13% VAT.
Falling prices of raw materials, finished steel, and rebar futures weighed on billet prices. The market remains uncertain regarding future price trends.
SHFE rebar futures (Jan’25 delivery) inched down by RMB 20/t ($3/t) d-o-d to RMB 3,466/t ($490/t) on 9 Oct’24.

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