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

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Tangshan billet slipped RMB 30/t ($4/t) to RMB 3,020/t, while SHFE Oct’25 rebar dropped RMB 99/t ($14/t) to RMB 3,125/t.
Weak demand and rising inventories persist, with Northern China maintenance curbing output until early September.
Exports stay muted as mills hold offers, though billet exports may increase to offset rebar pressure.
Raw materials eased slightly, and coke seeks a 7th hike, but demand remains fragile.

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