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CHINA STEEL WRAP: Rebar market strengthens on list price hikes

March 19, 2013 - 09:35 GMT Location: Shanghai

KEYWORDS: China , rebar prices , iron ore prices , billet price , Shanghai Futures Exchange , rebar futures , hot rolled coil prices , Shanghai Steel Exchange Center , Dazhong

China’s spot rebar market made gains on Tuesday March 19 after several producers raised their list prices.

In Beijing, grade III rebar traded at 3,600-3,650 yuan ($573-581) per tonne, narrowing upwards by 10 yuan per tonne from Monday. In Shanghai, prices for the same product gained 10-20 yuan per tonne for the day to trade at 3,510-3,720 yuan per tonne. Four steelmakers raised their rebar list prices by 10-60 yuan per tonne on Tuesday. “The increases by the producers bolstered the market sentiment,” a Shanghai-based trader said. As a result...

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