CHINA REBAR: Loan rate cut continues to support futures

China’s rebar futures rose again on Wednesday November 6 amid bullish sentiment following a cut in loan rates by the country's central bank at the start of the week, which pushed up spot rebar prices.

Eastern China (Shanghai): 3,720-3,750 yuan ($532-536) per tonne, up 10 yuan per tonne
Northern China (Beijing): 3,640-3,660 yuan per tonne, narrowed upward by 10 yuan per tonnes

The People’s Bank of China (PBOC) on Monday lowered the rate on its one-year medium-term lending facility (MLF) loans to financial institutions to 3.25% from 3.30% previously, its first cut in the...


Jessica Zong

November 06, 2019

09:15 GMT