China: Steel billet prices rise sharply by RMB 70/t ($10/t)

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Steel billet tags in China’s Tangshan rose significantly by RMB 70/t ($10/t) to RMB 2,980/t ($412/t), including 13% VAT, on 12 May’25 against 9 May.
An increase in raw material costs, rising finished steel prices and rebar futures, coupled with favourable macroeconomic conditions, pushed up billet tags.
SHFE rebar futures (Oct’25) climbed up by RMB 60/t ($8/t) to RMB 3,082/t ($426/t) on 12 May’25 against 9 May.

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