Steel billet prices in the Tangshan market in north-east China rose by around RMB 70/t ($24/t) d-o-d on 28 May ‘21 to touch RMB 4,800/t, ex-Tangshan, including 13% VAT. The price hike was driven by the rebar rally on the Shanghai Futures Exchange (SHFE), with contracts reportedly settling at RMB 4,933/t ($775/t), up by RMB 116/t ($18/t).
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