China: Billet prices unchanged d-o-d, rebar futures dip on inventory pressure

• Exporters hedge currency fluctuation risks
  
  
• Iron ore prices remain stable
  
  

Chinese billet prices remained unchanged d-o-d at RMB 2,910/t ($425/t) on 26 February 2026, as stable domestic spot rates and rising inventories offset firmer export sentiment.

The sharp appreciation of the RMB below 6.83 against the dollar also kept exporters focused on hedging currency risks, limiting fresh price moves.

Meanwhile, SHFE rebar futures declined by RMB 8/t ($1/t) to RMB 3,080/t ($450/t), as the market's early gains faded later in the session amid climbing steel inventories and steady raw material prices.

Iron ore remained stable, while coke faced slight pressure due to increased Mongolian supply and high coking plant stocks, weighing mildly on sentiment.