China: Steel billets prices stable d-o-d even as rebar futures fall

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Domestic billets prices in China’s Tangshan remained stable d-o-d at RMB 3,810/t ($567/t), inclusive of 13% VAT, on 2 Feb’23.
Even as rebar futures dropped, stable finished steel prices have supported billets prices, SteelMint notes.
China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 4,042/t ($601/t), a decrease of RMB 42/t ($6/t) d-o-d.

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