China: Billet prices remain steady as market adjusts after recent gains

• Rebar slips slightly amid stable fundamentals
• Domestic market saw correction after recent rally

Chinese billet prices remained unchanged d-o-d at RMB 3,020/t ($442/t) on 28 April, as the market adjusted following recent gains. Despite improved buying interest, subdued trading volumes limited upside.

Meanwhile, SHFE rebar futures fell by RMB 4/t (less than $1/t) to RMB 3,149/t ($460/t). Export indices edged down by $2/t on cautious buying, while softer raw materials and pre-holiday stocking limited further downside.