- Stable domestic market as demand recovery remains gradual
- Export market steady despite subdued buying interest
Chinese billet prices remained unchanged d-o-d at RMB 2,980/t ($434/t) on 18 March, as the market stayed stable with demand recovery progressing slowly despite cost support. Mill profitability improved slightly, while social inventories showed limited movement, indicating a balanced but cautious domestic market.
Meanwhile, SHFE rebar futures declined by RMB 8/t ($1/t) d-o-d to RMB 3,140/t ($457/t). Export market conditions remained stable, with leading mills testing higher offers around $500/t FOB, although demand from the Middle East stayed subdued amid ongoing global uncertainties.
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