- Restocking activity supports short-term price rise
- Rebar futures edge up on improved sentiment
Chinese billet prices increased by RMB 10/t ($1/t) d-o-d to RMB 2,970/t ($435/t) on 10 April26, while SHFE rebar futures edged up by RMB 3/t ($0.43/t) to RMB 3,074/t ($450/t).
Despite a decline in iron ore prices driven by weak demand and expectations of higher supply, steel prices saw a marginal uptick, supported by improved short-term sentiment, limited restocking activity, and expectations of policy support. However, gains remained modest amid overall weak fundamentals and subdued demand.
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