China: Steel billet prices inch down by RMB 10/t ($1/t) d-o-d

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Steel billet prices in China’s Tangshan dipped by RMB 10/t ($1/t) d-o-d to RMB 3,070/t ($423/t) on 6 Dec’24. Prices include 13% VAT.
Billet prices were under pressure due to declining raw material costs, soft rebar futures, high portside inventories, and sluggish demand.
Meanwhile, SHFE rebar futures (May’25 delivery) decreased d-o-d by RMB 30/t ($4/t) to RMB 3,311/t ($456/t) on 6 Dec’24.

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