Steel billet prices in China’s Tangshan witnessed a recovery of RMB 100/t ($15/t) on 18 July following a jump in rebar futures. Prices stood at RMB 3,500/t ($520/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 3,780/t ($561/t), rising sharply by RMB 191/t ($28/t).
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