China: Billet steady, SHFE rebar rises on export strength ahead of holiday
- Chinese billet prices were unchanged at RMB 2,900/t ($420/t) on 11 February 2026, while SHFE rebar futures rose by RMB 20/t ($3/t) to RMB 3,054/t ($442/t).
- Pre-holiday slowdown limited spot trading, with rising social inventories and 90% of EAF mills halting production, keeping billet prices stable despite firmer sentiment.
- Active HRC exports, RMB appreciation, and mills' firmer offers with reduced allocations supported SHFE rebar futures.