Steel billet prices in China’s Tangshan witnessed a decrease of RMB 30/t ($4/t) on 29 Aug’22 following a sharp decline in rebar futures. Prices stood at RMB 3,740/t ($541/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Oct’22 delivery closed today at RMB 3,965/t ($574/t), a sharp fall of RMB 132/t ($19/t) as against the closing on 26 Aug.
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