China: Steel billet prices rise over RMB 200/t ($29/t) in last 2 trading days

- Billet prices in Tangshan rose by RMB 250/t ($36/t) over the past two trading days, reaching RMB 3,300/t ($471/t) on 30 September 2024. Prices include 13% VAT.
- A sharp rise in rebar futures, finished steel, and raw material prices drove billet prices higher.
- SHFE rebar futures (Jan'25 delivery) increased by RMB 210/t ($30/t) to RMB 3,551/t ($506/t) today against 27 September.