- Chinese billet prices rose by RMB 20/t ($3/t, 1%) d-o-d to RMB 2,960/t ($419/t) on 10 Dec, while SHFE rebar also rose by RMB 27/t ($4/t, 1%) d-o-d to RMB 3,079/t ($436/t).
- Improved cost support lifted sentiment, reducing inventories and pushing billet and rebar prices up.
- Expected lower output and firmer mill attitudes boosted buying interest, supporting the rise in spot and futures prices.
China: Billet, SHFE rebar gain amid stronger futures, output expectations
billet price rise China Billet China metal market update China steel prices China: Billet and SHFE rebar gain amid stronger futures and output expectations chinese billet market Chinese steel output cost support steel mill attitudes China output expectations rebar futures SHFE rebar gain amid stronger futures SHFE rebar prices steel inventory China steel market sentiment
Leave a Reply