China: Steel billet prices rebound by RMB 20/t ($3/t) d-o-d

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Domestic billet prices in China’s Tangshan recovered by RMB 20/t ($3/t) d-o-d to RMB 3,860/t ($562/t), inclusive of 13% VAT, on 24 Mar’23.
Steady finished steel prices and a slight recovery in rebar futures have supported billet prices.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,107/t ($598/t), rising by RMB 37/t ($5/t) d-o-d.

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