CHINA REBAR: Futures fall amid iron ore losses, but spot prices stable

China’s rebar futures fell on Thursday August 8 amid downward-spiraling iron ore prices. Spot prices for the long steel product were unchanged during the day, however, with buyers putting off their purchases amid the uncertainties in the market.

Domestic
Eastern China (Shanghai): 3,770-3,800 yuan ($535-539) per tonne, unchanged
Northern China (Beijing): 3,730-3,760 yuan per tonne, unchanged
Declining iron ore prices weighed on sentiment in the rebar futures market, resulting in the benchmark contract ending the day about 1% lower than Wednesday’s closing price, sources said.

Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao was at $93.31 per tonne on...

Published

Jessica Zong

August 08, 2019

11:35 GMT

Shanghai