China: Billet prices rise as demand improves, rebar futures edge up

• Stronger demand, restocking support prices
  
  
• Export market stable despite policy uncertainty
  
  

Chinese billet prices increased by RMB 10/t ($1.5/t) d-o-d to RMB 3,020/t ($442/t) on 22 April, supported by improving consumption across regions and restocking ahead of the May Day holidays. Market sentiment remained positive, with steel prices sustaining gains over the past few weeks and raw material costs rising on stronger mill procurement.

Meanwhile, SHFE rebar futures rose by RMB 5/t (less than $1/t) d-o-d to RMB 3,138/t ($460/t). Export market conditions remained stable, although cautious sentiment emerged amid potential policy controls on semi-finished steel exports, while select HRC deals were concluded at $5/t higher levels.