Construction steel prices steadied after recent losses as resilient crude steel output and firm iron ore imports offset weak property activity and weather-related disruptions to demand.
Steel rebar futures hovered around CNY 3,090 per ton, recovering from recent losses as higher iron ore prices and improving sentiment toward China's steel sector supported the market. Confidence was underpinned by crude steel production averaging 2.79 million tons per day in June, the highest since March, alongside strong iron ore imports and expectations of additional policy stimulus from Beijing. Still, the recovery remained limited by persistent weakness in China's property sector, where first-half real estate investment fell 18% year on year and construction starts declined 23.4%. High temperatures and frequent rainfall in parts of China also continued to disrupt outdoor building activity, keeping demand for construction steel subdued.