China: Steel billet prices inch up by RMB 10/t ($1/t)

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Steel billet prices in China’s Tangshan edged up by RMB 10/t ($1/t) to RMB 3,050/t ($418/t) on 30 Dec’24 against 27 Dec. Prices include 13% VAT.
Improved margins at mills and a rise in rebar futures supported billet tags. However, portside inventories are still on the higher side.
SHFE rebar futures (May’25 delivery) increased by RMB 49/t ($7/t) to RMB 3,317/t ($454/t) on 30 Dec against 27 Dec.

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