Steel billet prices in China’s Tangshan remained stable for the fourth consecutive day at RMB 4,290/t ($673/t), inclusive of 13% VAT. Rebar futures contract for May’22 delivery on the Shanghai Futures Exchange (SHFE) closed today at RMB 4,384/t ($688/t), up RMB 96/t ($15/t), d-o-d. Total billet inventory at Tangshan’s three key warehouses stands at 231,300 t on 3 Dec’21, down 21,300 t, w-o-w.
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