China: Steel billets prices edge up RMB 30/t ($4/t) d-o-d

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Domestic billets prices in China’s Tangshan increased by RMB 30/t ($4/t) d-o-d to RMB 3,800/t ($555/t), inclusive of 13% VAT, on 15 Feb’23.
Rising rebars futures and finished steel prices continued to support billets prices. However, demand is yet to improve.
China’s SHFE rebars futures contract for May’23 delivery closed today at RMB 4,066/t ($594/t), a rise of RMB 39/t ($6/t) d-o-d.

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