Steel billet prices in China’s Tangshan witnessed a rise of RMB 50/t ($7/t) on 8 Aug’22 supported by the hike in rebar futures. Prices stood at RMB 3,760/t ($556/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 4,136/t ($612/t), a sharp increase of RMB 100/t ($15/t) as against the closing on 5 August.
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