China: Steel billet prices rise RMB 60/t ($9/t) d-o-d

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Domestic billet prices in China’s Tangshan rose by RMB 60/t ($9/t) d-o-d to RMB 3,840/t ($567/t), inclusive of 13% VAT, on 11 Jan’23.
A hike in rebar 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 4,161/t ($614/t), an increase of RMB 37/t ($5/t), d-o-d.

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