China: Billet prices ease on bearish demand cues

• Chinese billet prices slipped by RMB 10/t ($1/t) d-o-d to RMB 2,930/t ($421/t) on 27 Jan'26, while SHFE rebar futures rose RMB 18/t ($3/t) to RMB 3,110/t ($447/t).
• Weak domestic demand amid the winter construction slowdown; steady mill output; ample inventories; and falling production expenses, driven by lower coke costs; pressured billet prices despite positive sentiment due to rising rebar futures.