Tag: China: Steel billet prices rise by RMB 60/t ($8/t) d-o-d

Steel billet prices in Tangshan rose by RMB 60/t ($8/t) as compared to previous day to RMB 3,150/t ($439/t, including VAT), while SHFE Oct’25 rebar futures increased by RMB 99/t ($14/t) to RMB 3,347/t ($466/t). The sharp increase in Chinese steel prices was mainly driven by government intervention discouraging low-level competition, which boosted market sentiment.