China: Steel billet prices rise RMB 50/t ($7/t) d-o-d

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Domestic billet prices in China’s Tangshan rose d-o-d by RMB 50/t ($7/t) to RMB 3,780/t ($551/t), inclusive of 13% VAT on 6 Jan’23.
Strong demand, a significant hike in futures, and finished steel prices have supported billet prices, SteelMint notes.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,107/t ($598/t), an increase of RMB 90/t ($13/t), d-o-d.

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