- Sep’26 demand improves only gradually
- Billet export offers hold at $466/t FOB
Chinese billet prices fell by RMB 10/t ($2/t) d-o-d to RMB 3,030/t ($451/t) on 7 September, while SHFE rebar futures declined by RMB 13/t ($2/t) to RMB 3,093/t ($461/t). Meanwhile, billet export offers remained unchanged at $466/t FOB.
The domestic decline reflected softer market sentiment and limited upside in futures, while September demand was improving only gradually.
However, firm raw-material costs provided some support, with iron ore above $100/t and expectations of a fifth round of coke-price increases. Logistics uncertainty also encouraged sellers to maintain cautious offers.
As a result, billet export prices held steady at $466/t FOB, with firm production costs limiting further downside despite weaker domestic indicators.
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