China: Steel billets prices stable d-o-d; rebar futures edge down

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Domestic billets prices in China’s Tangshan remained stable d-o-d at RMB 3,560/t ($497/t), inclusive of 13% VAT, on 17 Nov’22.
Low inventories and a marginal increase in finished steel prices have supported billets prices.
However, China’s SHFE rebar futures contract for Jan’23 delivery closed today at RMB 3,726/t ($521/t), a decrease of RMB 16/t ($2/t) d-o-d.

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