China: Steel billets prices edge up by RMB 20/t ($3/t)

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Domestic billets prices in China’s Tangshan rose by RMB 20/t ($3/t) to RMB 4,050/t ($589/t), inclusive of 13% VAT on 13 Mar’23.
Improved buying interest, increasing rebars futures, and finished steel prices have supported billets prices, SteelMint noted.
China’s SHFE rebars futures contract for May’23 delivery closed today at RMB 4,371/t ($636/t), an increase of RMB 57/t ($8/t) as against the closing on 10 Mar’23.

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