Steel billets prices in China’s Tangshan fell sharply by RMB 90/t ($14) following a sharp fall in rebar futures. Prices stood at RMB 4,700/t ($717/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 4,778/t ($729/t), witnessing a sharp fall of RMB 186/t ($28/t) against the closing on 22 April 2022.
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