CHINA REBAR: Export offers up on bullish outlook for domestic market

China’s domestic rebar prices were flat on Monday March 25, though but export offers edged up amid a positive outlook for demand in the next couple of months.

Domestic Eastern China (Shanghai): 3,840-3,880 yuan ($572-578) per tonne, unchanged Northern China (Beijing): 3,840-3,870 yuan per tonne, unchanged Weakening futures led to a slowdown in procurement rates in the spot rebar market. But sellers maintained their prices nonetheless since they were not under any supply pressure due to their smaller inventories. Meanwhile, some market participants took a wait-and-see approach during the day because this is the last week before China’s value-added tax for the manufacturing sector is reduced from 16%...

Published

Jessica Zong

March 25, 2019

10:40 GMT

Shanghai