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 by RMB 30/t ($4/t) d-o-d to RMB 3,010/t ($411/t) on 3 Jan’25. Prices include 13% VAT.
Rising inventories amid weak buying interest, volatile rebar futures, and sluggish finished steel market sentiments weighed on billet prices.
Meanwhile, SHFE rebar futures (May’25 delivery) decreased by RMB 34/t ($5/t) d-o-d to RMB 3,272/t ($447/t) on 3 Jan.

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