China: Steel billets prices fall RMB 40/t ($6/t) d-o-d

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Domestic billets prices in China’s Tangshan fell by RMB 40/t ($6/t) d-o-d to RMB 3,770/t ($556/t), inclusive of 13% VAT, on 6 Feb’23.
A decrease in rebars futures and finished steel prices have weighed on billets prices.
China’s SHFE rebars futures contract for May’23 delivery closed today at RMB 4,049/t ($597/t), a decrease of RMB 6/t ($1/t) as against the closing on 3 Feb’23.

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