China: Steel billet prices rise by RMB 90/t ($13/t) following hike in rebar futures

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Billet prices in Tangshan increased significantly by RMB 90/t ($13/t) to RMB 3,200/t ($449/t) on 28 Oct’24 against 25 Oct. Prices include 13% VAT.
The surge in billet prices was driven by the hike in finished steel prices and escalating rebar futures.
SHFE rebar futures (Jan’25 delivery) rose by RMB 75/t ($11/t) to RMB 3,451/t ($484/t) on 28 Oct’24 against 25 Oct’24.

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