China: Steel billet prices stable d-o-d even as rebar futures fall

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Domestic billet prices in China’s Tangshan remained stable d-o-d at RMB 3,950/t ($575/t), inclusive of 13% VAT on 21 Mar’23.
However, the market remained sluggish amid low buying interest and declining futures.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,156/t ($605/t), a decrease of RMB 38/t ($5/t) d-o-d.

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