China: Steel billet prices inch down by RMB 10/t ($1/t)

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Billet prices in Tangshan edged down by RMB 10/t ($1/t) to RMB 3,130/t ($439/t) on 5 Aug’24 against 2 Aug’24. Prices include 13% VAT.
Prices witnessed a drop despite increase in raw material, finished steel prices amid sluggish export market, decline in futures and falling exchange rates.
SHFE rebar futures (Oct’24 delivery) decreased by RMB 12/t ($2/t) to RMB 3,367/t ($472/t) on 5 Aug’24 against 2 Aug’24.

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