- Firm iron ore and coke demand support prices
- Geopolitical tensions pressure global supply chains
Chinese billet prices increased by RMB 10/t ($1/t) d-o-d to RMB 2,930/t ($424/t) on 6 March, supported by a slight decline in social inventories after earlier production cuts and firm demand for raw materials such as iron ore and coke. Market sentiment also improved after China’s congressional meetings signalled stronger policy support for economic development in 2026.
Meanwhile, SHFE rebar futures rose by RMB 13/t ($2/t) d-o-d to RMB 3,088/t ($447/t), reflecting improved market confidence despite lingering demand uncertainty and ongoing global supply chain concerns linked to geopolitical tensions in the Middle East.
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