China: Steel billet prices fall by RMB 20/t ($3/t) d-o-d amid bearish sentiments

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Billet prices in Tangshan fell d-o-d by RMB 20/t ($3/t) to RMB 3,340/t ($460/t) on 21 Jun’24. Prices include 13% VAT.
Drop in finished steel prices, volatile raw material prices and rebar futures along with lower trades have weighed on billet prices.
SHFE rebar futures (Oct’24 delivery) decreased d-o-d by RMB 34/t ($5/t) to RMB 3,563/t ($491/t) on 21Jun’24.

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