China: Steel billets prices hit one-month high amid positive sentiments

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Domestic billets prices in China’s Tangshan increased by RMB 50/t ($7/t) d-o-d today to RMB 3,850/t ($562/t), inclusive of 13% VAT. Prices have hit a one-month high level.
Rising rebars futures and finished steel prices supported billets prices, SteelMint observes.
SHFE rebars futures for May’23 delivery closed today at RMB 4,146/t ($605/t), a sharp rise of RMB 80/t ($12/t) d-o-d.

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