CHINA REBAR: Domestic prices pick up more strength on futures, billet gains

China’s domestic rebar prices rose further on Thursday May 16 on gains in the billet and futures markets, though trading activity fell in response to the increases.

Eastern China (Shanghai): 4,020-4,040 yuan ($585-587) per tonne, up 20-30 yuan per tonne
Northern China (Beijing): 3,950-4,000 yuan per tonne, up 20 yuan per tonne
Mills raised their offers following the gains in the futures market since Wednesday, as well as that in the billet market during the day.
But market sources said the higher spot prices for rebar was not driven by demand.
One of them - a Shanghai-based trader - noted that trading activity on Thursday had thinned in comparison with a day earlier.

A second trader in...


Miranda Song

May 16, 2019

11:43 GMT