China: Steel billets prices edge up RMB 20/t ($3/t)

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Domestic billets prices in China’s Tangshan increased by RMB 20/t ($3/t) to RMB 3,870/t ($564/t), inclusive of 13% VAT, on 20 Feb’23.
Improved demand, rising futures, and high finished steel prices supported billets prices.
China’s SHFE rebars futures contract for May’23 delivery closed today at RMB 4,184t ($610/t), an increase of RMB 17/t ($2/t) as against the closing on 17 Feb’23.

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