Steel billet prices in China’s key steel producing hub of Tangshan witnessed a decline, day-on-day, by around RMB 30/t ($5/t) on 26 Oct’21. Domestic billet prices stood at RMB 4,960/t ($777/t), including 13% VAT. According to data maintained with SteelMint, China’s rebar futures contract on the SHFE for Jan’22 delivery closed today at RMB 4,917/t ($771/t), up RMB 92/t ($14/t), d-o-d.
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