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

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Billet prices in Tangshan inched up by RMB 10/t ($1/t) to RMB 3,310/t ($469/t) on 8 Oct’24 against 30 Sep’24. Prices include 13% VAT.
The recent stimulus announcement and rising raw material costs bolstered billet prices. However, the market remains uncertain as it has reopened following the Golden Week holidays.
SHFE rebar futures (Jan’25 delivery) decreased by RMB 65/t ($9/t) to RMB 3486/t ($494/t) today against 30 September.

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