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

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Steel billet prices in China’s Tangshan fell d-o-d by RMB 50/t ($7/t) to RMB 3,060/t ($422/t) on 22 Nov’24. Prices include 13% VAT.
Rising portside inventories, declining rebar futures, and fluctuations in finished steel prices are driving billet prices downward.
Meanwhile, SHFE rebar futures (Jan’25 delivery) decreased by RMB 55/t ($8/t) to RMB 3,277/t ($452/t) on 22 Nov.

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