Steel billet prices in China’s Tangshan witnessed a sharp d-o-d fall of RMB 160/t ($25) on 12 Nov’21. Billet prices stood at RMB 4,290/t ($672), inclusive of 13% VAT. According to SteelMint data, China’s SHFE re-bar futures contract for Jan’22 delivery closed today at RMB 4,249/t ($666), a significant drop of RMB 194/t ($30), d-o-d.
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