China: Steel billet prices rise by RMB 40/t ($5/t) following uptick in rebar futures

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Steel billet prices in China’s Tangshan rose by RMB 40/t ($5/t) to RMB 2,970/t ($405/t) on 13 Jan’25 against 10 Jan’25. Prices include 13% VAT.
A recovery in demand, finished steel prices, and rebar futures supported billet tags.
SHFE rebar futures (May’25 delivery) increased by RMB 47/t ($6/t) to RMB 3,249/t ($443/t) on 13 Jan’25 against 10 Jan’25.

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