China: Steel billet prices remain stable d-o-d despite fall in rebar futures

• Billet prices in Tangshan remained stable d-o-d at RMB 3,380/t ($467/t) on 10 Apr'24. Prices include 13% VAT.
• Rise in raw material and finished steel prices have supported billet prices.
• However, SHFE rebar futures (Oct'24 delivery) inched down d-o-d by RMB 11/t ($2/t) to RMB 3,583/t ($495/t) on 10 Apr'24.