China: Steel billet prices drop amid declining rebar futures

• Steel billet prices in China's Tangshan fell by RMB 80/t ($11/t) to RMB 2,970/t ($408/t), including 13% VAT, on 7 Apr'25 compared to 3 Apr.
• Billet prices have come under pressure due to weak demand, falling raw material and steel prices, declining futures, and subdued trades.
• SHFE rebar futures (Oct'25) dropped RMB 85/t ($12/t) to RMB 3,146/t ($432/t) on 7 Apr as against 3 Apr.