China: Billet prices rise $3/t d-o-d; supply-cut optimism fades amid weak demand

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Chinese billet prices rose RMB 20/t ($3/t) to RMB 3,000/t ($423/t) d-o-d, while SHFE Jan’26 rebar increased RMB 21/t ($3/t) to RMB 3,133/t ($441/t).
The market showed mixed trends as optimism from supply-cut speculation faded amid weak demand. HRC outperformed rebar, though sentiment stayed muted.
Iron ore gained on expectations of stronger mill margins, but traders viewed the rise as speculative.

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