CHINA REBAR: Prices flat amid futures loss but demand strong

China’s domestic rebar prices were flat on Friday March 20 supported by strong demand in the spot market, although futures moved down.

Eastern China (Shanghai): 3,500-3,530 yuan ($495-500) per tonne, unchanged
Northern China (Beijing): 3,380-3,430 yuan per tonne, unchanged
End-user demand remained stable over the day while traders were actively restocking, which prevented rebar prices from declining with the futures prices.

Market participants expect demand to further improve and prices to rise in the coming month or two.
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Published

Jessica Zong

March 20, 2020

09:45 GMT

Shanghai