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

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Domestic billets prices in China’s Tangshan rose by RMB 40/t ($6/t) d-o-d to RMB 3,560/t ($503/t), inclusive of 13% VAT, on 16 Nov’22.
A rise in rebar futures and finished steel prices have supported billets prices, SteelMint notes.
China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,742/t ($528/t), an increase of RMB 50/t ($7/t) d-o-d.

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