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

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Billet prices in Tangshan fell by RMB 50/t ($7/t) to RMB 3,280/t ($451/t) on 8 Jul’24 against 5 Jul’24. Prices include 13% VAT.
Drop in raw material, finished steel prices, rebar futures and higher inventory have weighed on billet prices.
SHFE rebar futures (Oct’24 delivery) decreased by RMB 50/t ($7/t) to RMB 3,503/t ($482/t) on 8 Jul’24 against 5 Jul’24.

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