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

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Domestic billet prices in China’s Tangshan remained stable d-o-d at RMB 4,070/t ($590/t), inclusive of 13% VAT on 15 Mar’23.
Stability in finished steel prices has supported billet prices, SteelMint noted.
However, China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,332/t ($627/t), a fall of RMB 41/t ($6/t) d-o-d.

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