Steel billet prices in China’s key steel producing hub of Tangshan witnessed a sharp, day-on-day, fall of RMB 180/t ($28/t) on 22 Oct’21. Domestic billet prices stood at RMB 4,990/t ($781/t), including 13% VAT. According to data maintained with SteelMint, China’s rebar futures contract on SHFE for Jan’22 delivery closed today at RMB 4,900/t ($767/t), down RMB 76/t ($12/t), d-o-d.
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