China: Steel billet prices stable, rebar futures edge down d-o-d

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Domestic billets prices in China’s Tangshan remained stable at RMB 3,550/t ($502/t), inclusive of 13% VAT on 1 Dec’22.
A marginal increase in finished steel prices has supported domestic billets prices.
However, China’s SHFE rebars futures contract for Jan’23 delivery closed today at RMB 3,739/t ($528/t), a decrease of RMB 9/t ($1/t) d-o-d.

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