China’s carbon steel and stainless steel markets strengthened after the May Day holiday, supported by improving macroeconomic sentiment and rising raw material costs. Higher energy prices, firm freight rates, and stronger coal demand pushed iron ore prices higher, boosting confidence across the steel sector. 

In stainless steel, tighter nickel ore supply from Indonesia and production disruptions at smelters continued to support the market. Major mills also maintained a firm pricing strategy, helping market sentiment recover despite the traditional seasonal slowdown in demand. 

Market participants believe strong cost support and stable global manufacturing activity may continue to support steel market conditions in the near term.