China: Steel billet prices fall by RMB 20/t ($3/t) following drop in rebar futures

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Steel billet prices in China’s Tangshan fell by RMB 20/t ($3/t) to RMB 3,070/t ($420/t) on 10 Feb’25 as against 7 Feb’25. Prices include 13% VAT.
A decline in rebar futures, along with fluctuations in demand following the Lunar New Year holidays, weighed on billet prices.
SHFE rebar futures (May’25 delivery) dipped by RMB 21/t ($3/t) to RMB 3,331/t ($456/t) on 10 Feb’25 as against 7 Feb’25.

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