- Billet prices in Tangshan remained stable at RMB 3,570/t ($503/t) on 1 Feb’24. Prices include 13% VAT.
- Stability in rebar futures and decent trades before Lunar holidays have kept billet prices supported. However, drop in raw material and finished steel prices is a matter of concern.
- Meanwhile, SHFE rebar futures (May’24 delivery) remained largely stable at RMB 3,868/t ($544/t) on 1 Feb’24.
