China: Steel billet prices drop RMB 10/t ($1/t) from last close

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Tangshan billet fell RMB 10/t ($1/t) to RMB 3,050/t, while SHFE Oct’25 rebar rose RMB 35/t ($5/t) to RMB 3,244/t.
Rebar hit a 3-month low, flats held above RMB 3,400/t, and inventories kept rising as demand stayed weak.
Export activity was limited and raw materials softened, while coking coal margins turned positive after six months.

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