China: Steel billet prices fall by RMB 20/t ($3/t) amid weak market sentiments

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Steel billet prices in China’s Tangshan fell by RMB 20/t ($3/t) to RMB 3,100/t ($431/t) on 11 Nov’24 against 8 Nov’24. Prices include 13% VAT.
A weak stimulus in China, combined with demand-supply imbalances, falling finished steel tags, and softening rebar futures, has put pressure on billet prices.
SHFE rebar futures (Jan’25 delivery) decreased by RMB 36/t ($5/t) to RMB 3,331/t ($463/t) on 11 Nov’24 against 8 Nov’24.

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