China: Steel billet prices edge up by RMB 10/t ($1/t) d-o-d despite fall in rebar futures

—

Billet prices in Tangshan edged up d-o-d by RMB 10/t ($1/t) to RMB 3,480/t ($480/t) on 25 Apr’24. Prices include 13% VAT.
Recovery in raw material and finished steel prices along with decreasing port inventories have supported billet prices.
However, SHFE rebar futures (Oct’24 delivery) decreased by RMB 12/t ($2/t) d-o-d to RMB 3,669/t ($506/t) on 25 Apr’24.