- Chinese billet prices fell by RMB 10/t ($7/t) d-o-d to RMB 2,940/t ($416/t) on 9 Dec, while SHFE rebar fell by RMB 31/t ($4/t, 1%) d-o-d to RMB 3,052/t ($432/t).
- Weak cost support and a sharp decline in coke prices pressured finished steel prices, with limited speculative buying.
- Export sentiment also softened as major mills cut bases by $8/t, keeping overall market mood subdued.
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