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

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Billet prices in Tangshan rose by RMB 40/t ($6/t) to RMB 3,330/t ($458/t) on 15 Jul’24 against 12 Jul’24. Prices include 13% VAT.
Increase in finished steel prices, rebar futures and stability in raw material prices have supported billet prices.
SHFE rebar futures (Oct’24 delivery) increased by RMB 28/t ($4/t) to RMB 3,551/t ($489/t) on 15 Jul’24 against 12 Jul’24.

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