Billet prices in China’s key steel production hub of Tangshan increased by RMB 30/t ($5/t) on 16 Nov’21. Domestic billet prices stood at RMB 4,180/t ($655/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s rebar futures contract for Jan’22 delivery closed today at RMB 4,128/t ($647/t), down RMB 10/t ($1/t), d-o-d.
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