China: Steel billet prices remain stable for second straight day

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Billet prices in Tangshan remained stable d-o-d at RMB 3,550/t ($493/t) on 23 Feb’24. Prices include 13% VAT.
Drop in rebar futures and finished steel prices have weighed on billet market.
SHFE rebar futures (May’24 delivery) inched down d-o-d by RMB 7t ($1/t) to 3,790/t ($527/t) on 23 Feb.