China: Steel billet prices fall by RMB 40/t ($6/t) d-o-d

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Steel billet prices in China’s Tangshan fell by RMB 40/t ($6/t) d-o-d to RMB 3,190/t ($451/t), including 13% VAT, on 10 Oct’24.
Uncertainty regarding raw material prices, finished steel offers, and rebar futures, along with lower trade volumes, have put pressure on billet prices.
SHFE rebar futures (Jan’25 delivery) decreased by RMB 24/t ($3/t) d-o-d to RMB 3,442/t ($486/t) on 10 Oct’24.

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