China: Steel billet prices rise by RMB 30/t ($4/t) d-o-d

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Steel billet prices in China’s Tangshan rose by RMB 30/t ($4/t) d-o-d to RMB 3,160/t ($441/t) on 7 Nov’24. Prices include 13% VAT.
Stability in finished steel prices and a rise in rebar futures supported billet tags. However, demand is yet to improve.
SHFE rebar futures (Jan’25 delivery) increased by RMB 44/t ($6/t) d-o-d to RMB 3,436/t ($480/t) on 7 Nov’24.

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