Steel billet prices in China’s Tangshan increased by RMB 30/t ($5/t) on 16 Dec’21. Domestic billet prices stood at RMB 4,360/t ($685/t), inclusive of 13% VAT. According to data maintained with SteelMint, China’s re-bar futures contract for May’22 delivery closed today at RMB 4,529/t ($711/t), witnessing a sharp rise of RMB 88/t ($14/t), d-o-d.
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