Steel rebar futures rose above CNY 3,140 per ton, hovering near five month highs after China reported record steel exports in December, as traders front loaded shipments ahead of Beijing’s planned export license requirement for 2026. Shipments of the construction and manufacturing staple reached 11.3 million tons last month, while full year exports climbed 7.5% to a record 119.02 million tons. Beijing’s move to introduce a licensing system from 2026 aims to regulate outbound shipments after strong export volumes triggered a growing protectionist backlash globally. On the demand side, optimism over additional stimulus in China this year has offered some support, although a prolonged property sector downturn continues to weigh on domestic steel consumption.
