- Holiday period keeps market activity subdued
- SHFE rebar futures decline by RMB 12/t ($2/t)
Chinese billet prices fell by RMB 20/t ($3/t) d-o-d to RMB 2,980/t ($444/t) on 28 September, while SHFE rebar futures declined by RMB 12/t ($2/t) to RMB 3,106/t ($463/t). Meanwhile, billet export offers rose by $3/t to $465/t FOB.
Domestic demand remained weak, with limited buying from construction projects and other end-user sectors. Market activity was also subdued due to the ongoing holiday period, keeping both buyers and sellers largely inactive. The combination of weak demand, cautious buying, and reduced holiday-period trading activity put downward pressure on domestic billet prices.
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