Steel billet prices in China’s key steel producing hub, Tangshan, fell by RMB 50/t ($8/t) on 21 Oct’21. Domestic billet prices stood at RMB 5,170/t ($808/t) including 13% VAT. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Jan’22 delivery closed today at RMB 4,976/t ($778/t), witnessing a sharp decline of RMB 328/t ($51/t), d-o-d.
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