China: Billet steady, SHFE rebar slips on pre-holiday weakness

• Chinese billet prices were unchanged at RMB 2,910/t ($420/t) on 9 Feb 2026, while SHFE rebar futures edged down RMB 9/t ($1/t) to RMB 3,060/t ($442/t).
• Pre-holiday slowdown, rising inventories, slowing mill operation, pressured futures sentiment, while spot billet prices held steady amid thin trade.
• Weak domestic demand and falling raw material prices weighed on rebar futures, while stable exports limited spot price moves.