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

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Domestic billets prices in China’s Tangshan rose by RMB 20/t ($3/t) d-o-d today to RMB 4,070/t ($592/t), including 13% VAT.
Rising rebars futures have supported billets prices. However, buying interest at current offers is limited as market participants are in a wait-and-watch mode.
SHFE rebars futures for May’23 delivery closed today at RMB 4,373/t ($636/t), largely stable d-o-d.

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