China: Billet prices increase by RMB 20/t despite a fall in rebar futures

Steel billet prices in China’s Tangshan witnessed a d-o-d rise of RMB 20/t ($3/t) on 10 Jan’22. Domestic billet prices stood at RMB 4,370/t ($686/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE re-bar futures contract for May’22 delivery closed today at RMB 4,492/t ($705/t), a fall of RMB 34/t ($5/t) against the closing on 7 Jan.