Steel billet prices in China’s Tangshan witnessed a sharp rise of RMB 130/t ($19/t) on 1 Aug’22 following a hike in rebar futures. Prices stood at RMB 3,760/t ($556/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Oct’22 delivery closed today at RMB 4,093/t ($605/t), an increase of RMB 97/t ($14/t) as against the closing on 29 July.
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