China: Billet prices stable as demand improves; rebar edges up

• Improving demand supports market sentiment
  
  
• Rebar slips despite steady domestic conditions
  
  

Chinese billet prices remained unchanged d-o-d at RMB 3,020/t ($442/t) on 24 April, as improving domestic consumption and faster inventory drawdown supported overall sentiment. Market conditions remained steady, with mills maintaining current pricing levels ahead of potential output adjustments.

Meanwhile, SHFE rebar futures increased by RMB 3/t (less than $1/t) d-o-d to RMB 3,134/t ($458/t). Supply and trade conditions showed improvement, but prices remained rangebound, with activity likely to slow in the coming week ahead of holidays following procurement needs.