China: Domestic billet prices fall RMB 50/t ($7/t) d-o-d

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Domestic billet prices in Tangshan decreased d-o-d by RMB 50/t ($7/t) to RMB 3,670/t ($512/t), inclusive of 13% VAT on 11 Oct’22.
Low demand after the National Holidays and a sharp decline in rebar futures have pulled down prices.
China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,774/t ($527/t), a sharp fall of RMB 101/t ($14/t) d-o-d.

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