Tag: scrap shortage China

Chinese billet prices rose RMB 30/t ($4/t) to 2,980/t ($419/t) against 14 Nov, while SHFE Jan’26 rebar gained RMB 44/t ($6/t) to 3,097/t ($436/t). Tight supply and firm costs supported the rise, with flat and long steel rising. Iron ore and coke shortages prompted a fourth-round price hike, lifting port prices by RMB 10/t ($1/t).…