CHINA REBAR: Futures rise after release of economic data, but spot prices fall

Rebar futures in China picked up on Monday July 15 following the release of the latest economic growth data, though spot prices for the long steel product softened amid selling pressure.

Domestic Eastern China (Shanghai): 3,970-3,990 yuan ($577-580) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,870-3,900 yuan per tonne, down 10 yuan per tonne China’s gross domestic product grew by 6.3% in the first half of this year, according to the National Bureau of Statistics. Analysts said this boosted sentiment in the rebar futures market during the day. But spot prices fell as a...

Published

Jessica Zong

July 15, 2019

10:56 GMT

Shanghai