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

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Billet prices in Tangshan fell by RMB 30/t ($4/t) d-o-d to RMB 3,200/t ($440/t) on 24 Jul’24. Prices include 13% VAT.
Decline in raw material, finished steel prices and rebar futures amid monsoon have weighed on billet prices.
Meanwhile, SHFE rebar futures (Oct’24 delivery) decreased by RMB 6/t ($1/t) d-o-d to RMB 3,391/t ($466/t) on 24 Jul’24.

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