Billet prices in China’s Tangshan fell by RMB 70/t ($11/t) on 17 Jan’22. Prices stood at RMB 4,360/t ($687/t), including 13% VAT. Buying interest has weakened and a lull has descended on the market ahead of the Spring Festival. SteelMint data shows that SHFE re-bar futures contract for May’22 delivery closed today at RMB 4,553/t ($717), a sharp fall of RMB 111/t ($17/t), d-o-d.
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