China: Steel billet prices rise despite decline in rebar futures

Steel billet prices in China’s Tangshan increased by RMB 20/t ($3/t) on 12 May’22. Prices stood at RMB 4,660/t ($686/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE re-bar futures contract for Oct’22 delivery closed today at RMB 4,612/t ($679/t), witnessing a sharp fall of RMB 69/t ($10/t), d-o-d.