China: Steel billet prices up RMB 40/t ($6/t) d-o-d amid positive sentiments

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Billet prices in Tangshan rose d-o-d by RMB 40/t ($6/t) to RMB 3,380/t ($467/t) on 9 Apr’24. Prices include 13% VAT.
Optimistic sentiments from raw materials, finished steel and rebar futures have supported the billet prices.
SHFE rebar futures (Oct’24 delivery) increased d-o-d by RMB 34/t ($5/t) to RMB 3,594/t ($497t) on 9 Apr’24.