- Billet prices in Tangshan inched up by RMB 20/t ($3/t) to RMB 3,520/t ($487/t) on 20 May’24 against 17 May’24. Prices include 13% VAT.
- Rise in raw materials prices, finished steel prices and rebar futures have supported billet prices. However, rising port inventories is a matter of concern with more cargoes on the way.
- SHFE rebar futures (Oct’24 delivery) increased by RMB 19/t ($3/t) to RMB 3,735/t ($516/t) on 20 May’24 against 17 May’24.
