Steel billet prices in China’s Tangshan witnessed a sharp rise of RMB 100/t ($16/t) on 7 Feb’22 after the Spring Festival holidays. Prices stood at RMB 4,600/t ($723/t), inclusive of 13% VAT. According to SteelMint data, China’s re-bar futures contracts on the SHFE for May’22 delivery closed today at RMB 4,847/t ($762/t), an increase of RMB 18/t ($3/t) against the closing on 28 Jan.
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