China: Steel billet prices fall further by RMB 10/t ($1/t) d-o-d

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Steel billet prices in China’s Tangshan continued their downtrend, declining by RMB 10/t ($1/t) d-o-d to RMB 3,060/t ($430/t) on 24 Oct’24. Prices include 13% VAT.
Drop in raw material prices, weak finished steel demand, and lower trades weighed on billet tags.
SHFE rebar futures (Jan’25 delivery) remained largely stable at RMB 3,315/t ($466/t) on 24 Oct’24.

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