China: Steel billets prices rise 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 3,740/t ($536/t), inclusive of 13% VAT on 12 Dec’22.
A significant increase in finished steel prices has supported billets prices, SteelMint noted.
However, China’s SHFE rebars futures contract for May’23 delivery closed today at RMB 3,935/t ($564/t), down by RMB 10/t ($1/t) as against the closing on 9 Dec’22.

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