Steel billets prices in China’s Tangshan decreased marginally by RMB 10/t ($1/t) d-o-d to RMB 3,440/t ($474/t), inclusive of 13% VAT on 1 Nov’22 despite a significant recovery in rebar futures. According to data maintained with SteelMint, China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,485/t ($480/t), a jump of RMB 88/t ($12/t), d-o-d.
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