CHINA REBAR: Trading thins on renewed Sino-US trade tensions

Sentiment in China’s spot rebar market worsened on Tuesday May 14 after China responded to the United States’ tariff increase with one of its own, resulting in buyers cutting their procurement rates.

Domestic Eastern China (Shanghai): 3,990-4,040 yuan ($581-588) per tonne, down 40-50 yuan per tonne Northern China (Beijing): 3,910-3,960 yuan per tonne, unchanged China will raise its tariffs on over 5,000 types of US imports to 5-25% from the current 5-10% from June 1, according to a notice from the country’s Ministry of Finance on Monday. The move is made in response to the US raising its tariff on $200 billion worth of Chinese products from 10% to 25%...

Published

Jessica Zong

May 14, 2019

10:50 GMT

Shanghai