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

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Domestic billets prices in China’s Tangshan remained stable d-o-d at RMB 3,470/t ($478/t), inclusive of 13% VAT on 8 Nov’22.
A hike in futures and stability in finished steel prices have supported billets prices. However, demand is yet to improve.
China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,571/t ($492/t), an increase of RMB 36/t ($5/t), d-o-d.

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