SPOT PRICE OF SQUARE BILLET IN TANGSHAN GOES UP TO US$ 253.09

The spot price of square billet in the steelmaking hub of Tangshan rose Yuan 10/mt on day to Yuan 1,660/mt ($253.09/mt) ex-stock Tangshan.

The front-month February IODEX swap jumped $2.45/dmt from Friday to $41.90/dmt CFR North China.

SHFE rebar futures also climbed precipitously Monday, with the most liquid May contract in Shanghai last trading at Yuan 1,827/mt ($278.55/mt), up Yuan 49/mt on day, and settling at Yuan 1,807/mt, up Yuan 33/mt on day.