China: Billet prices unchanged; rebar futures soften on muted buying and export uncertainty

• Chinese billet held prices were unchanged at RMB 2,940/t ($417/t) on 12 Dec, while SHFE rebar slipped RMB 8/t ($1/t) to RMB 3,038/t ($431/t). Weak demand and limited winter stocking kept buying subdued, prompting mills to trim allocations.
• Sentiment softened further after news of export quota controls, likely tightening shipments and reducing export interest. Steel export prices stayed unchanged.