China: Steel billet prices edge up even as rebar futures fall

Steel billet prices in China’s Tangshan increased d-o-d by RMB 20/t ($3/t). Prices stood at RMB 3,650/t ($508/t), inclusive of 13% VAT, on 13 Oct’22. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,719/t ($518/t), a decrease of RMB 35/t ($5/t), d-o-d.