China: Billet prices, rebar futures dip on cautious sentiment
- Chinese billet prices dropped RMB 10/t ($1/t) d-o-d to RMB 2,940/t ($423/t) on 30 Jan'26, while SHFE rebar futures declined by RMB 33/t ($5/t) to RMB 3,112/t ($448/t).
- Billet and rebar prices declined as rapid futures-led gains prompted buyer caution, slowing spot trade despite policy optimism and higher iron ore prices, with downstream demand remaining muted ahead of the Lunar New Year.