- Billet prices in Tangshan fell by RMB 20/t ($3/t) to RMB 3,540/t ($489/t) on 27 May’24 against 24 May’24. Prices include 13% VAT.
- Weak finished steel market, volatile rebar futures, sluggish demand leading to rising inventories have weighed on domestic prices.
- Meanwhile, SHFE rebar futures (Oct’24 delivery) decreased by RMB 25/t (3/t) to RMB 3,763/t ($520/t) on 27 May’24 against 24 May’24.
