China: Steel billet prices remain stable despite drop in rebar futures

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Billet prices in Tangshan remained stable at RMB 3,590/t ($499/t) on 22 Jan’24 as against 19 Jan’24. Prices include 13% VAT.
Rise in finished steel prices and stability in raw material prices supported billet prices.
However, SHFE rebar futures (May’24 delivery) decreased by RMB 13/t ($2/t) to RMB 3,902/t ($542/t) on 22 Jan as against 19 Jan.

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