China: Steel billets prices rise RMB 50/t ($7/t) d-o-d

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Domestic billets prices in China’s Tangshan rose d-o-d by RMB 50/t ($7/t) to RMB 3,760/t ($540/t), inclusive of 13% VAT on 27 Dec’22.
A hike in futures has supported billets prices. However, weak demand still prevails in the market.
China’s SHFE rebars futures contract for May’23 delivery closed today at RMB 4,066/t ($584/t), an increase of RMB 60/t ($9/t) d-o-d.

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