China: Steel billet prices fall by RMB 70/t ($10/t)
Steel billet prices in China's Tangshan decreased by RMB 70/t ($10/t) on 14 July following a sharp decline in rebar futures. Prices stood at RMB 3,580/t ($529/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 3,833/t ($567/t), falling by RMB 77/t ($11/t).