China: Billet prices unchanged while rebar futures edge lower

• Steady buying interest helped maintain market balance
  
  
• Rebar futures softened slightly amid cautious sentiment
  
  

Chinese billet prices remained stable at RMB 3,060/t ($450/t) on 20 May, while rebar futures edged down by RMB 4/t ($1/t) to RMB 3,151/t ($464/t), as balanced market conditions, low social inventories, and steady buying interest supported prices despite sluggish demand. Stable mill margins and tighter production inspections also helped limit downside pressure.

Meanwhile, billet export offers from China were heard around $490/t FOB, with cautious sentiment persisting amid expectations of tighter controls on semi-finished steel exports.