CHINA REBAR: Ongoing US-China trade talks keep buyers away

The ongoing trade talks between the United States and China kept buyers on the sidelines on Friday May 10, sources said, with market participants expected to wait for clearer price direction before returning.

Export prices were flat on Friday, but are expected to continue to face downward pressure due to the depreciation of the Chinese yuan against the US dollar. Falling domestic prices also added to the downward pressure. Domestic  Eastern China (Shanghai): 4,050-4,090 yuan ($594-600) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,910-3,960 yuan per tonne, down 20 yuan per tonne Domestic rebar sellers cut their prices to secure higher sales volumes ahead of...

Published

Jessica Zong

May 10, 2019

10:30 GMT

Shanghai