China: Steel billet prices fall by RMB 40/t ($5/t) d-o-d

• Steel billet prices in China's Tangshan fell by RMB 40/t ($5/t) d-o-d to RMB 3,070/t ($421/t) on 18 Dec'24. Prices include 13% VAT.
• The decline in raw material and finished steel prices, along with the uncertainty in weather conditions and rebar futures, put pressure on billet prices.
• Meanwhile, SHFE rebar futures (May'25 delivery) decreased by RMB 52/t ($7/t) d-o-d to RMB 3,312/t ($455/t) on 18 Dec.