Steel billet prices in China’s Tangshan witnessed a recovery of RMB 20/t ($3/t) on 5 July following a significant hike in rebar futures. Prices stood at RMB 3,920/t ($584/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Oct’22 delivery closed today at RMB 4,238/t ($632/t), witnessing an increase of RMB 70/t ($10/t).
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