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

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Domestic billets prices in China’s Tangshan remained stable at RMB 3,520/t ($491/t), inclusive of 13% VAT on 23 Nov’22.
Stability in finished steel prices and a marginal increase in futures have supported domestic billets prices.
China’s SHFE rebars futures contract for Jan’23 delivery closed today at RMB 3,691/t ($515/t), an increase of RMB 14/t ($2/t) d-o-d.

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