China: Steel billet prices fall by RMB 20/t ($2/t) amid drop in rebar futures

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Steel billet prices in China’s Tangshan fell by RMB 20/t ($2/t) to RMB 3,150/t ($444/t) on 4 Nov’24 against 30 Oct’24. Prices include 13% VAT.
Lower trades, declines in raw material and finished steel prices, and weaker rebar futures put downward pressure on billet tags.
SHFE rebar futures (Jan’25 delivery) decreased by RMB 17/t ($2/t) to RMB 3,425/t ($483/t) on 4 Nov’24 against 30 Oct’24.

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