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

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Domestic billet prices in China’s Tangshan rose by RMB 30/t ($4/t) d-o-d to RMB 3,850/t ($572/t), inclusive of 13% VAT, on 13 Jan’23.
A hike in futures and finished steel prices have supported billet prices, SteelMint notes.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,173/t ($620/t), an increase of RMB 37/t ($5/t), d-o-d.

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