CHINA REBAR: Prices up on lower sales pressure

The upward momentum in China’s rebar market strengthened on Monday January 21 with sellers being under less pressure to cut their inventories.

Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($546-552) per tonne, up 20-30 yuan per tonne Northern China (Beijing): 3,670-3,700 yuan per tonne, up 40 yuan per tonne Rebar futures posted gradual increases over the last few days on positive macroeconomic policies introduced by the central Chinese government, among which include the People’s Bank of China’s lowering of banks’ reserve requirement ratios - the amount of cash they must hold – and tax cuts for 2019...

Published

Jessica Zong

January 21, 2019

08:10 GMT

Shanghai