China: Steel billet prices rise sharply by RMB 60/t ($8/t) d-o-d

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Billet prices in Tangshan rose significantly by RMB 60/t ($8/t) to RMB 2,890/t ($406/t) d-o-d on 12 Sep’24. Prices include 13% VAT.
Declining inventory, rise in raw material and finished steel prices and rebar futures have supported billet prices.
Meanwhile, SHFE rebar futures (Jan’25 delivery) increased by RMB 48/t ($7/t) to RMB 3,185/t ($447/t) d-o-d.

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