Steel billet prices in China’s Tangshan market witnessed a sharp d-o-d fall of RMB 140/t ($22/t) on 15 Nov’21. Domestic billet prices stood at RMB 4,150/t ($650/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Jan’22 delivery closed today at RMB 4,138/t ($648/t), a significant drop of RMB 111/t ($17), d-o-d.
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