China: Steel billet prices stable, rebar futures rise d-o-d

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Domestic billets prices in China’s Tangshan remained stable at RMB 3,540/t ($493/t), inclusive of 13% VAT on 25 Nov’22.
Stability in finished steel prices and an increase in futures have supported domestic billets prices.
China’s SHFE rebars futures contract for Jan’23 delivery closed today at RMB 3,736/t ($521/t), a rise of RMB 55/t ($8/t) d-o-d.

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