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

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Billet prices in Tangshan inched up d-o-d by RMB 20/t ($3/t) to RMB 3,400/t ($470/t) on 11 Apr’24. Prices include 13% VAT.
Improvement in steel margin, dropping inventory and rise in finished steel prices have continued to support billet prices.
Meanwhile, SHFE rebar futures (Oct’24 delivery) increased d-o-d by RMB 30/t ($4/t) to RMB 3,613/t ($499/t) on 11 Apr’24.