CHINA REBAR: Domestic prices rise on supply concern

China’s domestic rebar prices experienced a sharp rebound on Tuesday July 10 amid anticipation of production cuts in the country’s steelmaking hub of Tangshan in the northern region.

Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($604-612) per tonne, up 60-70 yuan per tonne Northern China (Beijing): 3,940-3,990 yuan per tonne, up 70-80 yuan per tonne A document is being spread around in the spot market regarding production cuts in Tangshan over the July 10-31 period to fight air pollution. According to the document, the source of which could not be verified at the time of writing, blast furnaces in Tangshan will be required to restrict production to 50-70% of capacity while...

Published

Jessica Zong

July 10, 2018

08:37 GMT

Shanghai