- Weak demand caps domestic steel market activity
- Export market improves with selective higher offers
Chinese billet prices declined by RMB 20/t ($3/t) d-o-d to RMB 2,960/t ($428/t) on 27 March, as domestic demand remained sluggish despite a 2–3% increase in mill production. Trade activity stayed weak, with rebar transactions below 100,000 t/day, while softer iron ore and coke prices added pressure.
Meanwhile, SHFE rebar futures fell by RMB 4/t (less than $1/t) d-o-d to RMB 3,124/t ($452/t). Export market conditions improved slightly, with leading mills seeking higher prices for select orders, while coated steel producers reported stronger order inflows toward the end of the week.
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