Steel billets prices in China’s Tangshan saw a recovery of RMB 30/t ($5/t) on 12 Apr’22 to reach RMB 4,760/t ($747/t), including 13% VAT on the lifting of the lockdown in Tangshan and resumption of production in some plants and a sharp hike in rebar futures. China’s SHFE re-bar futures contract for Oct’22 delivery closed today at RMB 5,035/t ($790/t), a sharp increase of RMB 168/t ($26/t), d-o-d.
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