China: Steel billet prices rise RMB 20/t ($3/t) d-o-d

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Domestic billet prices in China’s Tangshan rose d-o-d by RMB 20/t ($3/t) to RMB 3,780/t ($547/t), inclusive of 13% VAT on 30 Dec’22.
Hike in futures and finished steel prices have supported billet prices, SteelMint observed.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,105/t ($595/t), an increase of RMB 57/t ($8/t), d-o-d.

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