China: Steel billet prices rise further by RMB 50/t ($7/t) d-o-d

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Billet prices in Tangshan continue to rise d-o-d by RMB 50/t ($7/t) to RMB 2,980/t ($424/t) on 25 Sep’24. Prices include 13% VAT.
Uptrends in raw material prices, finished steel, and rebar futures, along with positive macroeconomic news, have collectively contributed to the rise in billet prices.
SHFE rebar futures (Jan’25 delivery) increased by RMB 8/t ($1/t) to RMB 3,225/t ($459/t) d-o-d.

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