China: Billet steady, SHFE rebar edges higher on export support pre-holiday
- Chinese billet prices remained unchanged at RMB 2,900/t ($420/t) on 12 February 2026, while SHFE rebar futures increased by RMB 10/t ($1/t) to RMB 3,064/t ($444/t).
- Slower pre-holiday trading and higher social inventories kept the physical market quiet, supporting stable billet levels. Meanwhile, active HRC exports, a stronger RMB, and firm mill offers with tighter allocations lent support to rebar futures.