China: Steel billet prices remain stable for two consecutive days
- Billet prices in Tangshan remained stable for two straight days at RMB 3,680/t ($521/t) on 28 Dec'23. Prices include 13% VAT.
- Significant fall in rebar futures and low demand before holidays have weighed on billet market.
- SHFE rebar futures (May'24 delivery) decreased d-o-d by RMB 27/t ($4/t) to RMB 3,996/t ($566/t).