Tag: steel market outlook China

Market weakens on rising output, falling inventories Export market remains stable amid rising freight costs Chinese billet prices fell by RMB 10/t ($1.5/t) to RMB 2,970/t ($430/t) on 19 March, as output rose 2% and inventories dropped 1.5%, indicating a turning point. Weaker iron ore and sluggish coke demand further pressured sentiment. Meanwhile, SHFE rebar…