CHINA REBAR: Prices rise on impending iron ore supply drop

China’s rebar prices moved up on Wednesday April 3 in both its domestic and export markets in response to heightened expectations of a drop in iron ore supply upstream.

Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($580-588) per tonne, up 50 yuan per tonne Northern China (Beijing): 3,900-3,940 yuan per tonne, up 40 yuan per tonne Ferrous futures, including the rebar contract, rose across the board during the day after a third major iron ore producer, BHP, warned that its output of the steelmaking raw material this year could fall by 6-8 million tonnes after Cyclone Veronica disrupted its Western Australia Iron Ore operations last month,...

Published

Jessica Zong

April 03, 2019

11:08 GMT

Shanghai