China: Steel billet prices drop by RMB 40/t ($5/t) d-o-d

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Billet prices in Tangshan dropped by RMB 40/t ($5/t) d-o-d to RMB 3,330/t ($458/t) on 5 Jul’24. Prices include 13% VAT.
Decline in finished steel prices, rebar futures and lower trades amid lack of demand have weighed on billet prices.
SHFE rebar futures (Oct’24 delivery) fell by RMB 63/t ($9/t) d-o-d to RMB 3,553/t ($489/t) on 5 Jul’24.

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