Steel billet prices in China’s steel hub, Tangshan, rose by RMB 30/t ($5/t) on 23 Aug’21. Domestic billet prices stood at RMB 4,910/t ($757/t), inclusive of 13% VAT. Overall billet trading remained weak, SteelMint notes. The Chinese re-bar futures contract for Jan’22 delivery settled at RMB 5,102/t ($786/t) today, witnessing a slight uptrend of RMB 2/t ($0.31/t) against the closing on 20 Aug’21.
Leave a Reply