China: Billet prices edge up on cost support, SHFE rebar firms ahead of holiday

• Chinese billet prices inched up by RMB 10/t ($1.4/t) d-o-d to RMB 2,930/t ($422/t) on 4 Feb'26, while SHFE rebar futures edged higher by RMB 7/t ($1/t) to RMB 3,097/t ($446/t)
• Rising iron ore and coke prices provided cost-push support
• Pre-holiday mill cutbacks and fewer spot arrivals tightened supply, lifting sentiment and nudging billet prices and SHFE rebar futures higher