Steel billet prices in Tangshan are reported to have increased by 70 yuan to 3,540 yuan ($497). Recently, the Chinese steel market has been trending towards an improvement in demand and a decrease in supply, which has adjusted the recent decline in prices. In addition, the lowest level of rebar warehouses in China in the last 4 years caused the prices to recover. According to China's EX-WHS trading method, the domestic rebar price index was reported in the range of 503-505$/t up 30 to 40 yuan.
Billet prices have increased in China
Recently, the Chinese steel market has been trending towards an improvement in demand and a decrease in supply, which has adjusted the recent decline in prices.
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