China: Steel billet prices rise by RMB 40/t ($6/t) d-o-d

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Billet prices in Tangshan rose by RMB 40/t ($6/t) d-o-d to RMB 3,350/t ($461/t) on 3 Jul’24. Prices include 13% VAT.
Improvement in demand, raw material prices, finished steel prices and rebar futures continue to support billet prices.
SHFE rebar futures (Oct’24 delivery) increased d-o-d by RMB 57/t ($8/t) to RMB 3,619/t ($498/t) on 3 Jul.

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