DAILY: China rebar, billet prices recover, trading up further

On November 12, China’s national average benchmark price for HRB 400 20mm dia rebar recovered Yuan 12/tonne ($1.7/t) on day and the Tangshan Q235 150mm square billet price, another important indicator of China’s steel market, also reversed up Yuan 20/t on day, both in response to possible supply reduction with Beijing’s latest announcements on winter restrictions.
On Tuesday, rebar price reached Yuan 3,896/t and billet Yuan 3,340/t EXW, both including the 13% VAT, as China’s Ministry of Ecology and Environment (MEE) issued two notices regarding the winter restrictions in the Fenwei Plains and the Yangtze River Delta area over October 1-March 31 2020, with steel, coal


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