China: Steel billet prices up RMB 30/t ($4/t)

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Steel billet prices in China’s Tangshan increased by RMB 30/t ($4/t) to RMB 3,080/t ( $429/t) from the previous day’s RMB 3,050/t ($425/t, including VAT), while SHFE Oct25 rebar futures incline RMB 29/t ($4/t) to RMB 3,233/t ($450/t).
Prices were driven by the rally in coking coal futures, fuelled by coal production control rumors, which lifted steelmaking costs and boosted market sentiment.

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