China: Steel billet prices edge up by 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 3,960/t ($573/t), inclusive of 13% VAT.
Recovery in futures and finished steel prices kept billet prices supported.
SHFE rebar futures contract for May’23 delivery closed today at RMB 4,272/t ($618/t), an increase of RMB 47/t ($7/t) d-o-d.

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