China: Steel billets prices stable, rebars futures edge down d-o-d

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Domestic billets prices in China’s Tangshan remained stable d-o-d at RMB 3,760/t ($539/t), inclusive of 13% VAT on 28 Dec’22.
Stability in finished steel prices has supported billets prices, SteelMint noted.
However, China’s SHFE rebars futures contract for May’23 delivery closed today at RMB 4,050/t ($580/t), a fall of RMB 16/t ($2/t) d-o-d.

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