Billet prices in Tangshan in North China's Hebei province extended their on-week gains during the week of April 20-26 to hit the highest level this year, the latest Mysteel data shows. Market sentiment had remained buoyant, boosted by broad gains in prices of ferrous futures last week.

Sizable Chinese industrial enterprises saw their total profits amount to Yuan 1.7 trillion ($248.3 billion) in the first quarter of 2026, posting a marked 15.5% on-year jump from the same period last year, according to the latest release from China's National Bureau of Statistics (NBS) on April 27.

PT Indonesia Tsingshan Stainless Steel (ITSS), the Indonesian production base of China's Tsingshan Holding Group, raised its export price quotes for 304-grade stainless cold-rolled products by $30/tonne last Friday as market concerns over tighter nickel supply intensified.

Below is the brief near-term outlook for five key steel products Mysteel shares on a weekly basis, drawing upon the results of related surveys and communication with Chinese market participants.

Chinese prices for imported iron ore increased slightly in both spot and futures markets during April 20-24, following stronger steel prices bolstered by a steady recovery of steel demand from end-users. During the same period, spot and futures prices of metallurgical coke in China also strengthened