China: Steel billet prices edge up by RMB 10/t ($1/t)

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Billet prices in China’s Tangshan rose by RMB 10/t($1/t) to RMB 3,120/t ($429/t) on 2 Dec’24 against 29 Nov. Prices include 13% VAT.
Recovery in raw material prices, coupled with a rise in rebar futures and finished steel prices, has provided support to billet prices.
SHFE rebar futures (Jan’25 delivery) increased by RMB 15/t ($2/t) to RMB 3,333/t ($458/t) on 2 Dec against 29 Nov.

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