China: Steel billet prices stable d-o-d, rebar futures edge lower

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Domestic billets prices in China’s Tangshan remained stable d-o-d at RMB 3,620/t ($501/t), inclusive of 13% VAT on 19 Oct’22.
Weak market sentiments, drop in futures and finished steel prices have weighed on the domestic billets prices.
China’s SHFE rebars futures contract for Jan’23 delivery closed today at RMB 3,647/t ($504/t), a fall of RMB 31/t ($4/t) d-o-d.

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