CHINA REBAR: Domestic market loses momentum on softening futures, billet

China’s domestic rebar prices lost their upward momentum ahead of the weekend amid a softening of the billet and futures markets on Friday November 3 .

Domestic Eastern China (Shanghai): 3,900-3,940 yuan ($590-596) per tonne, unchanged Northern China (Beijing): 3,760-3,800 yuan per tonne, unchanged Tangshan’s billet prices fell late on Thursday due to weak demand and are expected to fall even further before the start of the weekend. This, coupled with lower futures, led to thin trading in the spot rebar market, taking away what little upward momentum that was driving...

Published

Jessica Zong

November 03, 2017

09:35 GMT

Shanghai