China: Steel billet prices up by RMB 40/t ($6/t) d-o-d

Steel billet prices in China’s Tangshan saw an increase of of RMB 40/t ($6/t) on 12 Aug’22 following an improvement in prices of downstream products. Prices stood at RMB 3,770/t ($559/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 4,150/t ($616/t), an increase of RMB 42/t ($6/t) d-o-d.