Steel billet prices in China’s Tangshan increased by RMB 20/t ($3/t) to RMB 3,700/t ($532/t), inclusive of 13% VAT on 8 Sept’22. Decline in inventories and improving demand in the market have supported domestic prices. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,719/t ($535/t), a rise of RMB 46/t ($7/t), d-o-d.
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