CHINA REBAR: Rate cut sparks bearish sentiment

China domestic rebar prices fell on Monday March 30 on pessimism over the recovery of demand in the country after its central bank cut the rate on seven-day reverse repurchase agreements by 20 basis points - the largest in nearly five years.

Eastern China (Shanghai): 3,430-3,460 yuan ($483-488) per tonne, down 40 yuan per tonne
Northern China (Beijing): 3,350-3,370 yuan per tonne, down 30 yuan per tonne
 

The People's Bank of China cut the seven-day reverse repo rate by 20 basis points from 2.4% to 2.2% while injecting 50 billion yuan into money market...

Published

Jessica Zong

March 30, 2020

10:00 GMT

Shanghai