- Spring demand improves as inventories decline
- Export market weak despite better vessel availability
Chinese billet prices fell by RMB 10/t ($1.5/t) d-o-d to RMB 2,980/t ($432/t) on 25 March, as softer raw material prices offset improving domestic demand. Rising social demand and steel output, along with a slight decline in inventories, confirmed a seasonal turning point in the market.
Meanwhile, SHFE rebar futures dropped by RMB 13/t ($2/t) d-o-d to RMB 3,132/t ($454/t). Export markets remained challenging, although improved vessel availability supported trade flows, while mills kept benchmark offers unchanged amid cautious global demand.
Leave a Reply