China’s buying interest for billets has continued to remain strong amidst increasing re-bar futures prices. According to market sources, a recent deal for 30,000 t of steel billets from Indonesia was concluded at around $710-715/t CFR China for Nov’21 shipment. Chinese re-bar futures for Jan’22 delivery surged by RMB 230/t ($36/t), d-o-d, to close at RMB 5,682/t ($879/t).
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