China: Steel billet prices decline by RMB 40/t ($6/t) d-o-d

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Billet prices in Tangshan decreased by RMB 40/t ($6/t) to RMB 3,060/t ($427/t) d-o-d on 8 Aug’24. Prices include 13% VAT.
Lower trades, volatile futures, seasonal factors, fall in raw material and finished steel prices have weighed on billet prices.
Meanwhile, SHFE rebar futures (Oct’24 delivery) fell by RMB 50/t ($7/t) to RMB 3,254/t ($454/t) d-o-d on 8 Aug’24.

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