Steel billet prices in China’s Tangshan decreased d-o-d by RMB 70/t ($11/t) on 4 Aug’21. The prices of domestic billet were reported at RMB 5,100/t ($789/t), inclusive of 13% VAT. Overall billet trading remained modest, SteelMint notes. According to data maintained with SteelMint, the Chinese rebar futures contract for Oct’21 delivery closed today at RMB 5,454/t ($844/t), witnessing a sharp hike of RMB 207/t ($32/t).
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