CHINA REBAR: Spread of coronavirus in Asian countries stalling exports

High inventory levels weighted on China’s domestic rebar market on Tuesday February 25 while concerns over overseas demand also led to a drop in export prices.

Eastern China (Shanghai): 3,450-3,480 yuan ($491-495) per tonne, down 10 yuan per tonne
Northern China (Beijing): 3,380-3,420 yuan per tonne, widened downward by 10 yuan per tonne
A pile-up of finished steel due to weak demand and transportation restrictions in China put pressure on prices, sources said.

Member mills of the China Iron & Steel Association (Cisa) had 21.34 million tonnes of finished steel in their warehouses on February 20, up 15.3%...


Jessica Zong

February 25, 2020

10:05 GMT