China: Steel billets prices stable, rebar futures rise d-o-d

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Domestic billets prices in China’s Tangshan remained stable d-o-d at RMB 3,550/t ($505/t), inclusive of 13% VAT on 2 Dec’22.
The stability in finished steel prices and a significant rise in rebar futures have supported billets prices.
However, China’s SHFE rebar futures contract for May’23 delivery closed today at RMB 3,808/t ($542/t), a rise of RMB 75/t ($11/t) d-o-d.

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