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...