CHINA REBAR: Domestic prices regain upward momentum

China’s domestic rebar prices posted strong gains on Monday April 22 amid gains in the futures market, though concerns have emerged over an increase in supply.

Domestic
Eastern China (Shanghai): 4,120-4,150 yuan ($614-619) per tonne, up 60-70 yuan per tonne
Northern China (Beijing): 4,050-4,080 yuan per tonne, up 40-50 yuan per tonne
Rising futures improved sentiment in the spot market during the day, resulting in higher prices for the physical product.
But market participants are not very optimistic about prices from May onward due to high production rates.

China produced 52.99 million tonnes of rebar in the first quarter of this year, up 12.8% year on...

Published

Jessica Zong

April 22, 2019

11:12 GMT

Shanghai