China: Billet and rebar gain as higher raw material costs lift market
- Chinese billet prices edged up by RMB 50/t ($7/t) to RMB 2,980/t ($426/t) on 7 Jan 2026, compared with 6 Jan, while SHFE rebar futures rose sharply by RMB 71/t ($10/t) to RMB 3,154/t ($451/t).
- Strong gains in iron ore and limit-up moves in coking coal and coke pushed steelmaking costs higher.
- Mill price hikes, speculative buying, and higher export benchmarks lifted billet and rebar prices.
