- Billet prices in Tangshan rose by RMB 40/t ($6/t) to RMB 3,500/t ($485/t) post-holidays on 6 May’24 against 30 Apr’24. Prices include 13% VAT.
- Positive finished steel market sentiments and hike in rebar futures have supported billet prices. However, trades are still on lower side.
- Meanwhile, SHFE rebar futures (Oct’24 delivery) increased sharply by RMB 79/t ($11/t) to RMB 3,735/t ($518/t) on 6 May’24 against 30 Apr’24.
