- Stable raw material costs fail to support billet prices
- Rebar export activity improves despite uncertain outlook
Chinese billet prices decreased by RMB 20/t ($3/t) d-o-d to RMB 2,940/t ($428/t) on 10 March, as domestic sentiment softened despite stable raw material costs. Iron ore prices remained steady at around $104/t, while coke prices saw slight adjustments following recent increases.
Meanwhile, SHFE rebar futures declined by RMB 15/t ($2/t) d-o-d to RMB 3,104/t ($452/t). Export activity improved with more offers released and most export bases rising by $10/t, although the market remained uncertain amid policy changes, freight fluctuations, and mixed global signals.
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