China: Billet prices edge up on firm sentiment, improving demand

Chinese billet prices rose by RMB 10/t ($1/t) to RMB 3,000/t ($440/t) on 20 April, while SHFE rebar futures increased by RMB 31/t ($5/t) to RMB 3,134/t ($460/t), supported by improved market sentiment and firmer raw material costs. Current billet export prices were heard at around $465-470/t FOB China.

A gradual recovery in domestic demand and better rebar consumption across regions, along with multiple rounds of local price hikes, added upward momentum.