- Falling coke prices limit upward momentum
- Iron ore gains support production costs
Chinese billet prices remained stable d-o-d at RMB 2,980/t ($432/t) on 1 April, as balanced mill output and demand, along with unchanged local steel prices and export offers, kept the market steady. Firm iron ore prices (+RMB 5-10/t) also provided cost support, while declining coke prices and softer oil trends limited upward momentum.
Meanwhile, SHFE rebar futures edged down by RMB 1/t to RMB 3,120/t ($452/t), pressured by weaker downstream sentiment and slower HRC/CRC demand.
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