Infrastructure Demand Ramp-up

Laborers are fully back at project hubs following the spring lull. Stocks of finished steel products in China fell 5.3% in early April, indicating that demand is finally catching up with mill output.

Cost-Push Pressures

Higher energy overheads and resilient iron ore prices are keeping the pressure on mill margins. Major producers like Shagang Group are maintaining stable prices for late April to preserve market share while costs remain volatile.