China: Billet prices gain momentum amid rising input costs, firmer export outlook

• Domestic market holds firm as rising costs counter muted demand
• Export market improves with stronger dollar and tightening global supply

Chinese billet prices rose by RMB 30/t ($4/t) d-o-d to RMB 2,990/t ($434/t) on 23 March, as strong cost support from higher coke prices offset limited buying activity. Supply remained stable while inventories declined slightly, keeping the market balanced.

Meanwhile, SHFE rebar futures increased by RMB 31 ($5/t) to RMB 3,154/t ($458/t), supported by firm raw material trends. Export sentiment improved, with higher benchmark offers driven by a stronger dollar and expectations of tighter global supply.