CHINA REBAR: Weak futures limit trading activity in spot market

A weakening of rebar futures in China on Friday July 12 led to participants withdrawing from the spot market for the long steel product, resulting in a drop in trading activity and keeping prices at a standstill for a second day.

Eastern China (Shanghai): 3,980-4,000 yuan ($579-582) per tonne, unchanged
Northern China (Beijing): 3,880-3,910 yuan per tonne, unchanged
Traders kept prices flat during the day to see whether rebar futures would pick up next week amid high iron ore prices.

Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao was at $119.37 per tonne on Thursday, compared with $72.07 at the start of...


Jessica Zong

July 12, 2019

11:20 GMT