China: Steel billet prices rise by RMB 30/t ($4/t) amid positive market sentiments

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Billet prices in Tangshan rose by RMB 30/t ($4/t) to RMB 3,230/t ($456/t) on 14 Oct’24 against 11 Oct’24. Prices include 13% VAT.
Increase in raw material, finished steel prices, rebar futures, and improvement in demand after the Golden Week holidays have supported billet prices.
SHFE rebar futures (Jan’25 delivery) increased by RMB 34/t ($5/t) to RMB 3,502/t ($494/t) on 14 Oct’24 against 11 Oct’24.

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