FX.co ★ Steel Pressured by Shrinking Margins

Steel rebar futures hovered around CNY 3,080 per ton, trading near a five-week low as tighter profit margins—squeezed by elevated raw material costs and muted demand—continued to weigh on the sector. China’s steel industry remains under pressure from a protracted property market slump and slowing construction activity, while exports are increasingly constrained by anti-dumping actions and broader protectionist measures abroad. Vietnam has imposed a temporary anti-dumping duty of up to 27.83% on certain Chinese hot-rolled coil products, effective April 17. At the same time, investors are closely tracking developments in the Middle East amid uncertainty surrounding the US–Iran two-week ceasefire. China ships substantial volumes of steel products to the region, including hot-rolled coils, pipes, and rebar, with Saudi Arabia and the UAE among its principal export markets.