China: Steel billets prices rise RMB 80/t ($11/t) d-o-d

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Domestic billets prices in China’s Tangshan rose d-o-d by RMB 80/t ($11/t) to RMB 3,810/t ($547/t), inclusive of 13% VAT on 15 Dec’22.
The decline in inventories, sharp hike in futures, and finished steel prices have supported billets prices.
China’s SHFE rebars futures contract for May’23 delivery closed today at RMB 4,084/t ($586/t), an increase of RMB 98/t ($14/t) d-o-d.

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