Steel billet prices in China’s Tangshan remained stable at RMB 4,180/t ($655/t), inclusive of 13% VAT on 18 Nov’21. According to data maintained with SteelMint, China’s rebar futures contract for Jan’22 delivery on the Shanghai Futures Exchange (SHFE) closed today at RMB 4,169/t ($653/t), witnessing a fall of RMB 47/t ($7/t), d-o-d. Prices are sliding due to increasing warehouse inventories amidst weak demand.
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