China: Steel billet prices surge by RMB 50/t ($7/t) d-o-d

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Steel billet prices in Tangshan, China, surged by RMB 50/t ($7/t) to RMB 3,010/t ($419/t), including 13% VAT, on 18 Jul’25.
Despite weak demand, prices rose amid policy-driven optimism and capacity cut plans. HRCs hit a 5-month high on better margins and strengthening raw materials tags. EAF output rebounded to 30-40%.
Additionally, SHFE Oct’25 rebar futures rose by RMB 15/t ($2/t) d-o-d to RMB 3,167/t ($441/t).

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