Steel billet prices in China’s Tangshan witnessed a sharp day-on-day fall of RMB 100/t ($16/t) on 2 Nov’21. Domestic billet prices stood at RMB 4,800/t ($750/t), inclusive of 13% VAT. According to data maintained with SteelMint, re-bar futures contracts for Jan’22 delivery on the SHFE closed today at RMB 4,230/t ($661/t), a significant decline of RMB 279/t ($44/t), d-o-d.
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