China: Steel billet prices drop by RMB 20/t ($3/t)

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Steel billet prices in China’s Tangshan dropped by RMB 20/t ($3/t) to RMB 2,990/t ($408/t) today against 3 Jan’25. Prices include 13% VAT.
Weak demand and a fall in raw material prices and rebar futures weighed on billet tags.
Meanwhile, SHFE rebar futures (May’25 delivery) declined by RMB 20/t ($3/t) to RMB 3,252/t ($444/t) on 6 Jan against 3 Jan.

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