Steel billet prices in China’s Tangshan market witnessed a sharp day-on-day fall of RMB 250/t ($39) on 8 Nov’21. Domestic billet prices are at RMB 4,650/t ($727), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Jan’22 delivery closed today at RMB 4,312/t ($674), a rise of RMB 65/t ($10), d-o-d.
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