China: Steel billet prices fall by RMB 30/t ($4/t) d-o-d

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Steel billet prices in China’s Tangshan fell d-o-d by RMB 30/t ($4/t) to RMB 3,040/t ($416/t) on 27 Dec’24. Prices include 13% VAT.
Weak demand, lack of encouragement from the policy front along with declining rebar futures and finished steel prices have led to a downturn in billet prices.
SHFE rebar futures (May’25 delivery) decreased by RMB 37/t ($5/t) d-o-d to RMB 3,268/t ($448/t).

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