- Finished steel prices witness decline
- Sentiment weakens post US-China talks
Chinese billet prices edged lower on 18 May, slipping by RMB 30/t ($4/t) to RMB 3,060/t ($450/t), while rebar futures also softened by RMB 11/t ($2/t) to RMB 3,160/t ($464/t), reflecting a sharper decline in finished steel such as rebar amid weak sentiment. Market participants had been looking for positive signals from the US-China talks to support stability, but the discussions failed to deliver meaningful progress, which further weighed on confidence.
Meanwhile, billet export offers from China were heard around $490/t FOB, adding to the cautious tone as both domestic and export markets adjusted to softer demand expectations and lack of policy clarity.
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