Steel billet prices in China’s Tangshan increased by RMB 20/t ($3/t) to RMB 3,720/t ($537/t) on 9 Sept’22, inclusive of 13% VAT. Hike in rebar futures, decline in inventories and improving demand in the market before the mid-Autumn festival have supported domestic prices. China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,791/t ($547/t), up RMB 72/t ($10/t) d-o-d.
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