Steel billet prices in China’s Tangshan rose by RMB 60/t ($9/t) on 27 June 2022 following a hike in rebar futures. Prices stood at RMB 3,960/t ($592/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE re-bar futures contract for Oct’22 delivery closed today at RMB 4,274/t ($639/t), witnessing a sharp increase of RMB 85/t ($13/t).
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