China: Steel billet prices fall d-o-d despite recovery in futures
- Billet prices in Tangshan dipped by RMB 20/t ($3/t) to RMB 3,660/t ($517/t) on 29 Dec'23. Prices include 13% VAT.
- Drop in finished steel and raw material prices towards the year-end have weighed on billet prices.
- However, SHFE rebar futures (May'24 delivery) increased d-o-d by RMB 6/t ($1/t) to RMB 4,002/t ($566/t).