China: Domestic billet prices fall RMB 40/t ($5/t) d-o-d

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Domestic billet prices in Tangshan fell by RMB 40/t ($5/t) d-o-d to RMB 3,630/t ($506/t), inclusive of 13% VAT on 12 Oct’22.
The drop in finished steel prices and rebar futures have weighed on billet prices, SteelMint understands.
China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,754/t ($523/t), a decrease of RMB 20/t ($3/t) d-o-d.

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