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...