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

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Billet prices in Tangshan fell d-o-d by RMB 30/t ($4/t) to RMB 3,120/t ($430/t) on 30 Jul’24. Prices include 13% VAT.
Negative market sentiments from raw material, finished steel prices and rebar futures along with lower trades have weighed on billet prices.
Meanwhile, SHFE rebar futures (Oct’24 delivery) decreased sharply d-o-d by RMB 62/t ($9/t) to RMB 3,301/t ($455/t) on 30 Jul’24.

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