CHINA REBAR: Prices rise further but caution emerges

China’s rebar prices continued to rise on Friday November 15, though traders have started to become more cautious about the market losing its upward momentum.

Domestic
Eastern China (Shanghai): 3,860-3,900 yuan ($550-555) per tonne, up 30-40 yuan per tonne
Northern China (Beijing): 3,700-3,720 yuan per tonne, up 20-30 yuan per tonne
Demand was robust, especially in eastern China, amid continual gains in the futures market.
A trader in Shanghai started selling rebar at 3,860 per tonne in the morning, but by the afternoon, she was motivated to raise her price on robust buying activity. She ended up selling all the mainstream-grade HRC she had in her inventory.

A second trader in the city was more...

Published

Miranda Song

November 15, 2019

10:55 GMT

Shanghai