CHINA REBAR: Domestic prices rise after surprise Trump move eases US-China trade tensions

China’s domestic rebar prices continued to rise on Wednesday August 14 after Tuesday's unexpected announcement by United States President Donald Trump of a delay in the imposition of a further 10% tariff on a number of Chinese goods until December 15.

Domestic  Eastern China (Shanghai): 3,700-3,730 yuan ($527-532) per tonne, up 50 yuan per tonne Northern China (Beijing): 3,630-3,650 yuan per tonne, up 10-20 yuan per tonne The announcement stimulated China’s stock and futures markets, with a rise in spot rebar prices following close behind, sources said. The Shanghai Stock Composite closed at 2,808.91 on Wednesday, up 11.66 (or 0.42%) from a day earlier. The most-traded October rebar contract...

Published

Jessica Zong

August 14, 2019

11:29 GMT

Shanghai