CHINA REBAR: Domestic prices drop amid weakening futures

China’s domestic rebar prices retreated amid thin trading on Monday April 16 due to losses in the futures market.

Domestic Eastern China (Shanghai): 3,650-3,700 yuan ($582-590) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,640-3,680 yuan per tonne, down 20-30 yuan per tonne Rebar futures declined throughout the day, which led to a deterioration of sentiment and lower prices in the spot market. End-users cut back on their procurement rates on seeing the weak futures because most of them have built up enough stock. Stockists are considering...

Published

Jessica Zong

April 16, 2018

10:53 GMT

Shanghai