Steel billet prices in China’s Tangshan remained stable at RMB 4,390/t ($689/t), inclusive of 13% VAT, on 23 Dec’21. Subdued demand for finished steel ahead of the Spring Festival has resulted in declining demand for steel billets. According to SteelMint data, China’s rebar futures contract for May’22 delivery on the Shanghai Futures Exchange (SHFE) closed today at RMB 4,479/t ($703/t), up RMB 41/t ($6/t), d-o-d.
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