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

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Domestic billet prices in China’s Tangshan remained stable at RMB 3,800/t ($561/t), inclusive of 13% VAT on 17 Jan’23.
Stability in finished steel prices and hike in futures supported billet prices, SteelMint notes.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,119/t ($608/t), an increase of RMB 26/t ($4/t) d-o-d.

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