Steel billet prices in China’s Tangshan rose by RMB 50/t ($8/t) on 19 Jan’22 to RMB 4,410/t ($695/t), inclusive of 13% VAT. The sharp rise in rebar futures trigerred the surge in billet prices. According to Steelmint data, China’s SHFE re-bar futures contract for May’22 delivery closed today at RMB 4,713/t ($742/t), witnessing a sharp increase of RMB 114/t ($18/t), d-o-d.
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