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

• Billet prices in Tangshan decreased by RMB 10/t ($1/t) to RMB 2,900/t ($411/t) d-o-d on 20 Sep'24. Prices include 13% VAT.
• Drop in rebar futures weighed on billet prices. However, demand continues to remain supportive.
• Meanwhile, SHFE rebar futures (Jan'25 delivery) fell by RMB 23/t ($3/t) to RMB 3,183/t ($451/t) d-o-d on 20 Sep.