Author: Nidhi Awasthi

China: Steel billet prices drop by RMB 20/t ($3/t) despite improvement in rebar futures

Nov 18, 2024

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by

Nidhi Awasthi

in Billet

Steel billet prices in China’s Tangshan fell by RMB 20/t ($3/t) to RMB 3,060/t ($422/t) on 18 Nov’24 against 15 Nov. Prices include 13% VAT. Uncertain market conditions, coupled with reduced demand, exerted downward pressure on billet tags. Meanwhile, SHFE rebar futures (Jan’25 delivery) increased by RMB 47/t ($6/t) to RMB 3,279/t ($453/t) on 18…