China: Billet prices slip on rising output, demand stabilises

• Market weakens on rising output, falling inventories
• Export market remains stable amid rising freight costs

Chinese billet prices fell by RMB 10/t ($1.5/t) to RMB 2,970/t ($430/t) on 19 March, as output rose 2% and inventories dropped 1.5%, indicating a turning point. Weaker iron ore and sluggish coke demand further pressured sentiment.

Meanwhile, SHFE rebar futures declined by RMB 5/t (less than $1) to RMB 3,135/t ($454/t), amid falling base metals and rising global uncertainties. Export conditions remained stable, though higher freight costs continued to support pricing.