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

• Billet prices in Tangshan inched down d-o-d by RMB 10/t ($1/t) to RMB 3,470/t ($480/t) on 9 May'24. Prices include 13% VAT.
• Negative market sentiment from raw material and rebar futures weighed on billet prices.
• Meanwhile, SHFE rebar futures (Oct'24 delivery) decreased d-o-d by RMB 5/t ($1/t) to RMB 3,669/t ($508/t) on 9 May'24.