China: Steel billet prices fall by RMB 10/t ($1/t) d-o-d

• Steel billet prices in China's Tangshan dipped by RMB 10/t ($1/t) d-o-d to RMB 3,080/t ($426/t) on 15 Nov'24. Prices include 13% VAT.
• Weak demand, high port stockpiles, and declining raw material and finished steel prices, including rebar futures, continued to weigh on billet tags.
• Meanwhile, SHFE rebar futures (Jan'25 delivery) decreased by RMB 81/t ($11/t) d-o-d to RMB 3,232/t ($447/t) on 15 Nov'24.