China: Steel billets prices rise RMB 40/t ($6/t)

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Domestic billets prices in China’s Tangshan rose d-o-d by RMB 40/t ($6/t) to RMB 3,730/t ($537/t), inclusive of 13% VAT on 14 Dec’22.
A hike in 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 3,986/t ($573/t), an increase of RMB 49/t ($7/t) d-o-d.

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