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 by RMB 80/t ($11/t) d-o-d to RMB 3,630/t ($522/t), inclusive of 13% VAT, on 5 Dec’22.
A significant increase in finished steel prices has supported billets prices, SteelMint understands.
However, China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 3,804/t ($547/t), largely stable as against the closing on 2 Dec’22

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