Steel billet prices in China’s Tangshan fell sharply by RMB 90/t ($13/t) on 13 June 2022 following a steep decline in rebar futures. Prices stood at RMB 4,430/t ($658/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 4,691/t ($696/t), falling by RMB 102/t ($15/t) against the closing on 10 June.
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