Steel billet prices in China’s Tangshan decreased by RMB 40/t ($6/t) on 18 May following a sharp fall in rebar futures. Prices stood at RMB 4,520/t ($670/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE re-bar futures contract for October delivery closed today at RMB 4,532/t ($691/t), witnessing a sharp fall of RMB 118/t ($17/t), d-o-d.
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