China: Steel billets prices fall RMB 50/t ($7/t)

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Domestic billets prices in China’s Tangshan fell by RMB 50/t ($7/t) to RMB 3,800/t ($564/t), inclusive of 13% VAT, on 16 Jan’23.
A decline in rebar futures has pulled down billets prices, SteelMint notes.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,093/t ($608/t), a decrease of RMB 80/t ($12/t) as against the closing on 13 Jan’23.

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