- Coke, iron ore prices continue to soften
- Outlook stays uncertain, sentiment cautious
Chinese billet prices declined by RMB 20/t ($3/t) d-o-d to RMB 2,960/t ($433/t) on 9 Apr’26, while SHFE rebar futures fell by RMB 17/t ($2/t) to RMB 3,071/t ($449/t).
The decline was driven by weaker cost support, as iron ore prices dropped by around 2.5% to a one-month low and coke prices continued to soften. Although steel output increased and inventories declined, demand remained sluggish, with slow sales weighing on sentiment.
The export market stayed stable but lacked momentum, and overall cautious sentiment, along with softer raw materials, led to the dip in both billet prices and rebar futures.
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