China: Steel billet prices stable as rebar futures edge up

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Domestic billet prices in China’s Tangshan remained stable d-o-d at RMB 3,650/t ($507/t), inclusive of 13% VAT on 14 Oct’22.
A recovery in finished steel prices, adequate inventories and a hike in rebar futures kept billet prices stable, SteelMint understands.
China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,759/t ($522/t), a rise of RMB 40/t ($5/t) d-o-d.

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