Steel billet prices in China’s Tangshan witnessed a sharp rise of RMB 70/t ($11/t) on 8 Feb’22. Prices stood at RMB 4,670/t ($734/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s SHFE re-bar futures contract for May’22 delivery closed today at RMB 4,912/t ($772/t), a sharp rise of RMB 65/t ($10/t), d-o-d.
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