China: Steel billet prices rise d-o-d despite market uncertainty

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Tangshan billet prices rose d-o-d by RMB 30/t ($4/t) to RMB 3,070/t ($423/t) on 6 Mar’25, including 13% VAT.
Market sentiments remained cautious as government signaled capacity cuts and potential banking support, but demand remained weak.
SHFE rebar futures (May’25) inched up d-o-d by RMB 15/t ($2/t) to RMB 3,274/t ($452/t) on 6 Mar’25.

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