Billet prices in the Tangshan market (North-east China) have been witnessing a decline since the end of last week, following a drop in futures prices. Billet prices on 18 May ‘21 dropped by RMB 70/t ($11/t) day-on-day. The price of commonly traded Q235 billet (150 mm diameter) was reported at RMB 5,470/t ($851/t), ex-Tangshan, including 13% VAT. However, Shanghai rebar futures closed at RMB 5,610/t (+14 d-o-d).
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