China: Steel billet prices inch up by RMB 20/t ($3/t) as rebar futures rise

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Billet prices in Tangshan edged up by RMB 20/t ($3/t) to RMB 3,330/t ($469/t) on 18 Mar’24 against 15 Mar’24. Prices include 13% VAT.
Improved buying interest and recovery in rebar futures supported prices. However, falling raw materials and finished steel prices occasion concern.
SHFE rebar futures (May’24 delivery) increased by RMB 23/t ($3/t) to RMB 3,513/t ($495/t) on 18 Mar’24 against 15 Mar’24.