China billet prices fall

Steel billet prices in China's Tangshan fell sharply by RMB 100/t ($16/t) on 11 April 2022 following a sharp fall in rebar futures. Prices stood at RMB 4,730/t ($743/t), including 13% VAT. According to data, China's SHFE rebar futures contract for Oct'22 delivery closed today at RMB 4,867/t ($764/t), witnessing a sharp fall of RMB 152/t ($24/t) as against the closing on 8 April.