China: Steel billet prices edge up 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 3,940/t ($570/t), inclusive of 13% VAT on 2 Mar’23.
Recovery 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 4,225/t ($611/t), a marginal increase of RMB 9/t ($1/t) d-o-d.

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