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 2,970/t ($414/t) on 13 Aug’24. Prices include 13% VAT.
Weak demand in finished steel market, declining raw material prices and rebar futures have put pressure on billet prices.
Meanwhile, SHFE rebar futures (Oct’24 delivery) decreased by RMB 49/t ($7/t) d-o-d to RMB 3,173/t ($443/t) on 13 Aug’24.

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