Steel billet prices in China’s Tangshan witnessed an increase of RMB 30/t ($4/t) on 22 Aug’22 following a significant hike in rebar futures. Prices stood at RMB 3,690/t ($539/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 4,010/t ($586/t), a rise of RMB 81/t ($12/t) against the closing on 19 Aug.
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