China: Steel billet prices plunge by RMB 100/t ($14/t) d-o-d amid drop in rebar futures

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Billet prices in China’s Tangshan fell significantly by RMB 100/t ($14/t) to RMB 3,090/t ($434/t) on 17 Oct’24. Prices include 13% VAT.
The decline in raw material offers, finished steel prices, and rebar futures and weak market fundamentals pulled down billet prices.
SHFE rebar futures (Jan’25 delivery) decreased sharply by RMB 147/t ($21/t) d-o-d to RMB 3,300/t ($463/t) on 17 Oct’24.

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