Steel billet prices in China’s Tangshan fell by RMB 50/t ($7/t) to RMB 3,650/t ($543/t) on 13 July, inclusive of 13% VAT due to volatile rebar futures, weak demand and subdued finished steel sentiments. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Oct’22 delivery closed today at RMB 3,910/t ($581/t), stable, d-o-d.
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