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

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Domestic billet prices in China’s Tangshan decreased by RMB 20/t ($3/t) d-o-d to RMB 3,560/t ($492/t), inclusive of 13% VAT on 27 Oct’22.
Weak market sentiments, declining futures and finished steel prices have weighed on domestic billet prices.
China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,563/t ($493/t), a fall of RMB 17/t ($2/t), d-o-d.

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