China: Billet prices hold steady amid weak sentiment, softer raw materials

• Negative sentiment weighs despite stable fundamentals
• Export market neutral as mills trim offers

Chinese billet prices remained unchanged d-o-d at RMB 2,980/t ($432/t) on 2 April, as weak sentiment offset stable fundamentals. Supply rose and rebar inventories declined, but overall sales remained slow, while iron ore and coke prices softened.

Meanwhile, SHFE rebar futures fell by RMB 14/t ($2/t) d-o-d to RMB 3,106/t ($450/t). Export markets stayed neutral, with mills trimming offers to secure orders, while wire rod demand improved slightly in some regions.