China: Steel billet prices inch up by RMB 10/t ($1/t) amid rise in rebar futures

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Billet prices in Tangshan edged up by RMB 10/t ($1/t) to RMB 2,870/t ($402/t) on 20 Aug’24 against 16 Aug’24. Prices include 13% VAT.
Improvement in finished steel prices and rebar futures have supported billet prices. Fall in raw material prices is a matter of concern.
SHFE rebar futures (Oct’24 delivery) increased sharply by RMB 94/t ($13/t) to RMB 3,172/t ($444/t) on 20 Aug’24 against 16 Aug’24.

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