Steel billet prices in China’s Tangshan rose by RMB 40/t ($6/t) on 7 Sept’21. The prices of domestic billet stood at RMB 5,120/t ($793/t), inclusive of 13% VAT. Prices edged up on improved buying enquiries from re-rollers as they resumed production after meeting environmental standards. According to data maintained with SteelMint, the Chinese rebar futures contract for Jan’22 delivery closed today at RMB 5,494/t ($851/t), a d-o-d increase of RMB 21/t ($3/t).
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