China: Steel billet prices rise sharply by RMB 100/t ($14/t) d-o-d

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Billet prices in Tangshan rose significantly by RMB 100/t ($14/t) to RMB 2,930/t ($417/t) d-o-d on 24 Sep’24. Prices include 13% VAT.
Declining port inventories, increase in raw material prices, finished steel prices, rebar futures and supportive government policies have pushed billet prices northwards.
SHFE rebar futures (Jan’25 delivery) increased sharply by RMB 130/t ($18/t) to RMB 3,217/t ($457/t) d-o-d on 24 Sep.

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