China: Steel billet prices edge down by RMB 20/t ($3/t)

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Domestic billet prices in China’s Tangshan fell by RMB 20/t ($3/t) to RMB 3,940/t ($568/t), inclusive of 13% VAT on 6 Mar’23.
Drop in rebar futures and finished steel prices have pulled down billet prices.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,210/t ($607/t), a decrease of RMB 62/t ($9/t) as against the closing on 3 Mar.

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