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

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Steel billet prices in China’s Tangshan fell by RMB 30/t ($4/t) d-o-d to RMB 3,080/t ($433/t) on 22 Oct’24. Prices include 13% VAT.
Weak demand, along with a drop in finished steel prices, rebar futures, and trade-level offers, weighed on billet tags.
SHFE rebar futures (Jan’25 delivery) decreased by RMB 22/t ($3/t) d-o-d to RMB 3,336/t ($468/t) on 22 Oct’24.

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