Steel billet prices in China’s Tangshan fell by RMB 50/t ($8/t) on 18 Oct’21. Domestic billet prices stood at RMB 5,200/t ($808/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Jan’22 delivery closed today at RMB 5,422/t ($843/t), witnessing a sharp decline of RMB 93/t ($14/t) against the closing on 15 Oct.
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