Steel billet prices in China’s Tangshan fell sharply d-o-d by RMB 100/t ($15/t) on 19 Aug’21. Domestic billet prices stood at RMB 4,880/t ($752/t) inclusive of 13% VAT. According to data maintained with SteelMint, China’s re-bar futures contract for Jan’22 delivery closed today at RMB 5,017/t ($773/t), witnessing a significant d-o-d decline of RMB 127/t ($19/t).
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