CHINA REBAR: Rebar prices up amid Vale port suspension

China’s rebar prices picked up some upward momentum on Tuesday March 12 with market participants expecting iron ore supply from Brazil's Vale to tighten.

Domestic Eastern China (Shanghai): 3,800-3,840 yuan ($565-571) per tonne, up 10-30 yuan per tonne Northern China (Beijing): 3,780-3,820 yuan per tonne, up 20-30 yuan per tonne Vale has suspended port activities at its Guaiba Island Terminal on instructions from local authorities. This is expected to affect seaborne iron ore supply as well as prices, market participants said. Rebar futures rose as a result of these developments, they added. These gains coupled with good weather resulted in stronger...

Published

Jessica Zong

March 12, 2019

10:00 GMT

Shanghai