Domestic billet prices in China recorded a significant fall of RMB 170/t ($26) d-o-d on 20 May ’21 owing to further decline in rebar futures. The prices of commonly traded Q235 billet (150mm diameter) were reported at RMB 5,300/t ($824/t) in Tangshan, including 13% VAT. SteelMint notes that the billet transactions were moderate as finished steel prices witnessed a sharp decline.
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