CHINA REBAR: High output weighing on sentiment, prices

China’s domestic rebar market resumed its downtrend on Friday June 14 on declining futures, with prices expected to fall further on mills’ higher steel output.

Domestic Eastern China (Shanghai): 3,870-3,900 yuan ($559-563) per tonne, down 10-20 yuan per tonne Northern China (Beijing): 3,780-3,830 yuan per tonne, down 10 yuan per tonne While rebar futures moved upward in the first half of the day, they went on to decline in the second half, ending the day below Thursday’s closing price. This resulted in thin trading in the spot market, which weighed on prices. Concerns over a further drop in prices led...

Published

Jessica Zong

June 14, 2019

11:15 GMT

Shanghai