CHINA REBAR: Anticipated production cuts in September keep prices from tumbling

China’s domestic rebar market lost its upward momentum on Thursday July 18 amid declining futures, with expectations of a supply drop ahead of the country’s National Day celebrations in October providing some support.

Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($577-582) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,900-3,930 yuan per tonne, unchanged Steelmaking restrictions are anticipated in September in northern China and parts of eastern China to improve air quality ahead of the country’s 70th National Day, although no official announcement has been made. A military parade is expected to be held over the October 1-7 celebrations, according to sources. As such, traders in the spot market are not...

Published

Jessica Zong

July 18, 2019

11:05 GMT

Shanghai