China: Steel billet prices stable, rebar futures inch up

Steel billet prices in China’s Tangshan remained stable at RMB 3,770/t ($549/t), inclusive of 13% VAT on 26 Aug’22. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Oct’22 delivery closed today at RMB 4,097/t ($597/t), witnessing an increase of RMB 45/t ($6/t), d-o-d.