China: Billets prices continue to remain stable, rebar futures rebound

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Domestic billets prices in China’s Tangshan remained stable for the second consecutive day on 8 Feb’23. Prices stood at RMB 3,770/t ($556/t), inclusive of 13% VAT.
A recovery in rebars futures has lent support to billets prices, SteelMint notes.
China’s SHFE rebars futures contract for May’23 delivery closed today at RMB 4,055/t ($598/t), an increase of RMB 37/t ($5/t) d-o-d.

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