China: Steel billet prices stable amid supportive market sentiments

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Billet prices in Tangshan remained stable at RMB 3,310/t ($455/t) on 1 Jul’24 against 28 Jun’24. Prices include 13% VAT.
Improvement in raw material prices, rebar futures and stability in finished steel prices have supported billet prices.
SHFE rebar futures (Oct’24 delivery) increased by RMB 18/t ($2/t) to RMB 3,562/t ($490/t) on 1 Jul’24 against 28 Jun’24.

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