CHINA REBAR: Domestic prices rise, but export market dips

China’s domestic rebar prices picked up some strength on Tuesday April 2 on gains in the futures market and good demand, though export offers fell with mills attempting to secure more orders from abroad.

Domestic Eastern China (Shanghai): 3,850-3,900 yuan ($574-581) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,860-3,900 yuan per tonne, up 20 yuan per tonne Gains in the futures market encouraged buyers to raise their rebar procurement rates, which led to the higher spot prices. Demand from the infrastructure and housing sector was steady, which supported the rebar market, sources said. With the winter production restrictions no longer in place since the end of March, mills in the northern Chinese region, particularly the steelmaking hub of Tangshan, can now produce steel at higher rates. But stockists have yet to report any increase in their inventory levels, which indicates the lack...

Published

Jessica Zong

April 02, 2019

10:31 GMT

Shanghai