China: Steel billet prices rise by RMB 30/t ($4/t) d-o-d

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Steel billet prices in China’s rose d-o-d by RMB 30/t ($4/t) to RMB 3,090/t ($424/t) on 23 Jan’25. Prices include 13% VAT.
Billet prices have found support from consistent steel prices, a surge in rebar futures, and pre-Lunar New Year restocking efforts.
SHFE rebar futures (May’25 delivery) inched up d-o-d by RMB 15/t ($2/t) to RMB 3352/t ($460/t) on 23 Jan’25.

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