CHINA REBAR: Prices ride commodities gains attributed to oil supply concerns

China’s domestic rebar prices increased on Monday September 16 following a strong showing by steel futures following an attack on Saudi Arabian oil facilities over the weekend.

Domestic Eastern China (Shanghai): 3,720-3,750 yuan ($525-530) per tonne, up 70 yuan per tonne Northern China (Beijing): 3,640-3,670 yuan per tonne, up 20 yuan per tonne The most-traded November crude oil contract on the Shanghai Futures Exchange closed at 470.30 yuan per barrel on Monday, up 33.80 yuan per barrel from last Thursday amid market concern over supply disruptions in major producer Saudi Arabia after drone attacks sparked a major fire at a petroleum-processing facility - the world’s largest - over...

Published

Jessica Zong

September 16, 2019

10:29 GMT

Shanghai