China: Billet drops $1/t d-o-d as holiday lull sets in

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Billet prices in Tangshan fell RMB 10/t ($1/t) to RMB 3,030/t ($425/t), while SHFE Jan’26 rebar inched up RMB 9/t ($1/t) to RMB 3,164/t ($444/t).
Market activity was subdued ahead of holiday amid stable local rates, high BF utilization, and rising inventories.
Exports stayed weak, though Benxi raised FOB HRC offers above $500/t. EAF losses hit a two-month high, prompting capacity cuts.

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