China: Steel billet prices up RMB 20/t ($3/t) d-o-d

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Domestic billets prices in China’s Tangshan rose d-o-d by RMB 20/t ($3/t) to RMB 3,490/t ($481/t), inclusive of 13% VAT on 9 Nov’22.
A hike in futures and recovery in finished steel prices have supported domestic billets prices.
China’s SHFE rebars futures contract for Jan’23 delivery closed today at RMB 3,590/t ($495/t), an increase of RMB 19/t ($3/t) d-o-d.

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