China: Steel billet prices stable, rebar futures edge down

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Domestic billet prices in China’s Tangshan remained stable at RMB 3,780/t ($557/t), inclusive of 13% VAT on 9 Jan’23.
Stability in finished steel prices kept billet prices supported, SteelMint notes.
However, China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,093/t ($604/t), a marginal decrease of RMB 14/t ($2/t) as against the closing on 6 Jan.

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