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

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Steel billet prices in China’s Tangshan inched down by RMB 10/t ($1/t) d-o-d to RMB 3,040/t ($416/t) on 31 Dec’24. Prices include 13% VAT.
Oversupply in the market amid weak demand and volatility in rebar futures, raw material tags, and finished steel prices weighed on billet offers.
Meanwhile, SHFE rebar futures (May’25 delivery) decreased by RMB 8/t ($1/t) d-o-d to RMB 3,309/t ($453/t) on 31 Dec’24.

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