China: Steel billets prices inch up RMB 30/t ($4/t) d-o-d

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Domestic billets prices in China’s Tangshan increased by RMB 30/t ($4/t) d-o-d to RMB 3,500/t ($492/t), inclusive of 13% VAT on 11 Nov’22.
Improved buying interest followed by a hike in futures and finished steel prices supported domestic billets prices.
China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,637/t ($512/t), a sharp rise of RMB 99/t ($14/t) d-o-d.

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