China: Steel billet prices fall d-o-d by RMB 30/t ($4/t)

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Domestic billet prices in China’s Tangshan fell d-o-d by RMB 30/t ($4/t) to RMB 3,620/t ($503/t), inclusive of 13% VAT on 18 Oct’22.
Weak demand and a drop in finished steel prices have weighed on billet prices.
China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,678/t ($511/t), largely stable d-o-d.

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