China: Billet prices edge up, rebar futures slip on weak demand
- Chinese billet prices rose RMB 10/t ($1/t) d-o-d to RMB 2,940/t ($422/t) on 23 Jan’26, while SHFE rebar futures declined RMB 11/t ($2/t) to RMB 3,092/t ($444/t).
- Improved sentiment and expectations of spring demand supported higher billet prices, while higher iron ore and coke costs strengthened mill confidence.
- Muted export demand, stable inventories, and pre-holiday uncertainty capped price gains and pressured SHFE rebar futures.
