Asia steel billet prices spike on China’s removal of import tax from May 1

Steel billet prices in Asia have jumped over the week to Friday April 30 on news that China will end import taxes for steelmaking raw materials, including semi-finished steel such as billets.

"Many buyers increased their bids significantly this week because they were rushing to purchase billets ahead of the implementation of the new tax regime," a trader in east Asia said.

Published

Paul Lim

Tianran Zhao

April 30, 2021

10:30 GMT

Singapore, Shanghai