China: Steel billet prices inch down by RMB 40/t ($6/t) d-o-d

• Steel billet tags in China's Tangshan plunged d-o-d by RMB 40/t ($6/t) to RMB 2,950/t ($409/t), including 13% VAT, on 16 May'25.
• The downtrend was primarily driven by softening raw material and finished prices, along with a dip in rebar futures, reflecting subdued domestic demand.
• SHFE rebar futures (Oct'25) dipped by RMB 36/t ($5/t) d-o-d to RMB 3,082/t ($428/t) on 16 May'25.