China: Steel billet prices drop by RMB 30/t ($4/t) d-o-d

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Billet prices in Tangshan dropped by RMB 30/t ($4/t) d-o-d to RMB 3,230/t ($444/t) on 23 Jul’24 against 22 Jul’24. Prices include 13% VAT.
Weak demand, decrease in raw material and finished steel prices have weighed on billet prices.
Meanwhile, SHFE rebar futures (Oct’24 delivery) declined by RMB 54/t ($7/t) d-o-d to RMB 3,397/t ($467/t) on 23 Jul’24.

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