China: Steel billet prices fall by RMB 50/t ($7/t)

—

Billet prices in Tangshan fell by RMB 50/t ($7/t) to RMB 2,910/t ($409/t) on 2 Sep’24 against 30 Aug’24. Prices include 13% VAT.
Slow demand, increasing port inventory along with drop in raw material prices and rebar futures have weighed on billet prices.
Meanwhile, SHFE rebar futures (Oct’24 delivery) decreased by RMB 44/t ($6/t) to RMB 3,178/t ($447/t) on 2 Sep’24 against 30 Aug’24.

Comments