Steel billet prices in China’s Tangshan rose by RMB 40/t ($6/t) on 24 Nov’21. Domestic billet prices stood at RMB 4,300/t ($673/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s re-bar futures contract for Jan’22 delivery closed today at RMB 4,502/t ($705/t), a sharp increase of RMB 187/t ($29/t), d-o-d. Positive signals from China’s property sector have boosted sentiments.
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