China: Steel billet prices rise by RMB 30/t ($4/t) d-o-d

• Steel billet prices in China's Tangshan rose by RMB 30/t ($4/t) d-o-d to RMB 3,040/t ($415/t) on 16 Jan'25. Prices include 13% VAT.
• Billet prices found support from improved demand, increased restocking activity, and positive trends in finished steel prices and rebar futures.
• SHFE rebar futures (May'25 delivery) increased by RMB 37/t ($5/t) d-o-d to RMB 3,327/t ($454/t) on 16 Jan'25.