China: Billet prices rise as stronger demand boosts sentiment

Chinese billet prices increased by RMB 10/t ($2/t) d-o-d to RMB 2,980/t ($437/t) on 16 April, supported by improved demand and a 3% drop in March output, which accelerated destocking.

Meanwhile, SHFE rebar futures surged by RMB 22/t ($3/t) to RMB 3,095/t ($459/t). Export markets turned cautious as mills reassessed offers, while rising iron ore and coke prices (3%) provided cost support. Current billet export prices were heard at around $465/t up by $5/t d-o-d FOB China.