Steel Rises on Strong Demand Signals

2026-04-16 07:10 By Jam Kaimo Samonte 1 min. read

Steel rebar futures climbed above CNY 3,090 per ton, reaching a near two-week high as signs of firm seasonal demand and restocking by end users lifted prices.

The strength in demand prompted China Steel Corp., the country’s largest steelmaker, to raise domestic prices for next month by NT$1,000 to NT$1,200 per ton, marking its fifth consecutive monthly increase.

The outlook was further supported by projections from the World Steel Association, which expects global steel demand to grow 0.3% this year to 1.724 billion tons and rise 2.2% next year to 1.762 billion tons, pointing to a gradual recovery in the sector.

An improving geopolitical backdrop also buoyed sentiment, with reports indicating Washington and Tehran are considering extending their two-week ceasefire to allow more time for negotiations.

The conflict has disrupted trade flows, reducing metals shipments to the Gulf, a region that was China’s second-largest steel export destination last year.



News Stream
Steel Rises on Strong Demand Signals
Steel rebar futures climbed above CNY 3,090 per ton, reaching a near two-week high as signs of firm seasonal demand and restocking by end users lifted prices. The strength in demand prompted China Steel Corp., the country’s largest steelmaker, to raise domestic prices for next month by NT$1,000 to NT$1,200 per ton, marking its fifth consecutive monthly increase. The outlook was further supported by projections from the World Steel Association, which expects global steel demand to grow 0.3% this year to 1.724 billion tons and rise 2.2% next year to 1.762 billion tons, pointing to a gradual recovery in the sector. An improving geopolitical backdrop also buoyed sentiment, with reports indicating Washington and Tehran are considering extending their two-week ceasefire to allow more time for negotiations. The conflict has disrupted trade flows, reducing metals shipments to the Gulf, a region that was China’s second-largest steel export destination last year.
2026-04-16
Steel Rises on Stronger Demand
Steel rebar futures climbed above CNY 3,080 per ton, rebounding from multi-week lows amid improving end-user demand, with Chinese mills ramping up production. Sentiment was also supported by optimism over a potential diplomatic resolution to the Iran conflict, with a longer-term ceasefire expected to revive Middle Eastern demand for Chinese steel. The conflict has disrupted trade flows through the Strait of Hormuz, reducing metals shipments to the Gulf. The region was China’s second-largest steel export destination last year, accounting for about 16% of its record-high exports. Meanwhile, the European Union has moved to raise tariffs on imported steel to 50% in a bid to shield its domestic industry from a surge in low-cost Chinese supply. China’s steel exports continue to face growing headwinds from anti-dumping measures and rising protectionism abroad, alongside a prolonged property sector downturn and weaker construction activity at home.
2026-04-15
Steel Falls as EU Tightens Trade Measures
Steel rebar futures dropped below CNY 3,080 per ton, sliding toward six-week lows after the European Union moved to raise tariffs on imported steel to 50%, aiming to protect its struggling domestic industry from a surge in low-cost Chinese supply. The agreement also reduces duty-free import quotas by 47%, with EU trade chief Maros Sefcovic warning that persistent global overcapacity poses a threat to Europe’s industrial base. China’s steel exports continue to face mounting pressure from anti-dumping measures and rising protectionism overseas, alongside a prolonged downturn in the property sector and softer construction activity at home. Market sentiment was also shaped by geopolitical developments, as investors weighed the possibility of a longer-term US-Iran ceasefire despite the ongoing US blockade on Iranian shipments.
2026-04-14