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

• Steel billet prices in China's Tangshan increased by RMB 30/t ($4/t) d-o-d to RMB 3,180/t ($448/t) on 5 Nov'24. Prices include 13% VAT.
• Low inventory levels and rising raw material and finished steel prices supported billet prices.
• SHFE rebar futures (Jan'25 delivery) increased by RMB 8/t ($1/t) d-o-d to RMB 3,433/t ($483/t) on 5 Nov'24.