Steel billet prices in China’s Tangshan witnessed a fall of RMB 50/t ($7/t) on 4 Aug’22 following a sharp decline in rebar futures. Prices stood at RMB 3,710/t ($549/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE re-bar futures contract for Oct’22 delivery closed today at RMB 3,980/t ($589/t), a fall of RMB 83/t ($12/t), d-o-d.
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