Steel billet prices in China’s Tangshan fell by RMB 180/t ($27/t) on 15 July following a sharp decline in rebar futures. Prices stood at RMB 3,400/t ($503/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 3,589/t ($531/t), a sharp fall of RMB 244/t ($36/t).
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