China: Billet prices, rebar futures steady on balanced fundamentals

• Stable exports provide limited market direction
  
  
• Positive coke demand supports raw material prices
  
  

Chinese billet prices remained stable at RMB 2,970/t ($435/t) on 13 April '26, while SHFE rebar futures also held steady at RMB 3,074/t ($450/t).

Stability was driven by firm cost support from steady raw material demand, positive coke consumption, and rising steel output, which offset weak demand conditions. Slow destocking, cautious export activity, and ongoing global uncertainties further limited price movement, keeping both billet prices and futures largely unchanged.