China's steel prices rise post-holiday.

Rebar: On February 11, China's national price of HRB400E 20mm dia rebar under the assessment surged by Yuan 215/tonne ($33.8/t) from that on January 30, standing at a three-month high of Yuan 5,032/t including the 13% VAT, partly as the market sentiment had been boosted on the anticipation of better demand from the country's infrastructure sector.
The most-traded May rebar contract on the Shanghai Futures Exchange (SHFE) closed at Yuan 4,905/t when the daytime trading session ended on February 11, or up by Yuan 141/t from the settlement price on January 28, and its backwardation against the Shanghai spot rebar price narrowed to Yuan 35/t as of February 11.
Billet: Tangshan Q235 150mm square billet price had jumped by Yuan 240/t from January 30 to Yuan 4,740/t EXW and including the VAT as of February 11, also a three-month high, which was underpinned by low stocks amid the stringent production curbs on steel mills to improve local air quality.
HRC: As of February 11, China's Q235 4.75mm HRC price was assessed at a three-month high of Yuan 5,125/t including the 13% VAT, or up by a large Yuan 211/t from January 30, mainly because HRC output remained at a low level.