China: Steel billet prices fall by RMB 60/t ($8/t) d-o-d amid drop in rebar futures

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Billet prices in Tangshan fell sharply by RMB 60/t ($8/t) d-o-d to RMB 3,340/t ($465/t) on 14 Mar’24. Prices include 13% VAT.
Decline in raw materials, finished steel prices and rebar futures have weighed on billet prices.
SHFE rebar futures (May’24 delivery) dropped d-o-d by RMB 77/t ($11/t) to RMB 3,506/t ($488/t) on 14 Mar’24.