China: Steel billet prices rise by RMB 80/t ($12/t) post Lunar holiday

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Domestic billet prices in China’s Tangshan rose by RMB 80/t ($12/t) to RMB 3,900/t ($578/t), inclusive of 13% VAT on 30 Jan’23.
A hike in futures has supported billet prices, SteelMint noted.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,201/t ($622/t), an increase of RMB 22/t ($3/t) as against the closing on 20 Jan’23.

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