China: Billets prices edge up RMB 20/t ($3/t) d-o-d

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Domestic billets prices in China’s Tangshan increased by RMB 20/t ($3/t) d-o-d to RMB 3,790/t ($559/t) on 9 Feb’23. Prices are inclusive of 13% VAT.
Improved raw material demand and an uptick in rebars futures and finished steel prices have supported billets prices.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,085/t ($603/t), up RMB 30/t ($4/t) d-o-d.

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