CHINA REBAR: Domestic prices lose upward momentum on retreating futures, soft demand

China’s domestic rebar prices stopped rising on Tuesday August 20 amid a weakening of steel futures and soft demand.

Domestic Eastern China (Shanghai): 3,700-3,730 yuan ($524-528) per tonne, unchanged Northern China (Beijing): 3,620-3,640 yuan per tonne, unchanged Buyers, having done some restocking on Monday, cut their procurement rates, which kept rebar prices from rising further, sources said. Declining rebar futures also put pressure on spot prices. Some market participants are expecting spot prices to...

Published

Jessica Zong

August 20, 2019

10:35 GMT

Shanghai