China Billet Prices Fall 1.79% as Trade Frictions and Weak Steel Demand Weigh on Market

China’s billet market shifted decisively toward June-driven expectations as fresh trade, supply, and logistics data reshaped sentiment around the ***×*** mm Q*** Ex-Tangshan grade. While May’s *.*** monthly rise still provides limited context, its influence has narrowed to roughly **–*** of current pricing signals. In contrast, June’s week-on-week *.*** decline, tightening export conditions, and evolving raw-material constraints now account for nearly **–*** of the market narrative, placing June at the center of billet price formation.

June’s trade data underscored persistent pressure on China’s steel and billet flows. Customs statistics show January–May steel exports at **.*** Mt (-*.** YoY) and imports at *.*** Mt (-**.** YoY). May exports reached **.*** Mt (-*.** YoY), reinforcing the subdued backdrop for billet shipments. Despite structural improvements since early ****, outbound volumes remain constrained by the high **** base, tighter export policies, global trade friction, and weak overseas demand. Even so, June is...