CHINA REBAR: Price decreases slow amid release of higher PMI

China’s domestic rebar prices decreased further on Tuesday March 31 amid declining futures, though the pessimism among market participants decreased following the release of a higher manufacturing purchasing managers’ index (PMI) as well as that for the steel sector.

Eastern China (Shanghai): 3,420-3,440 yuan ($482-485) per tonne, down 10-20 yuan per tonne
Northern China (Beijing): 3,340-3,370 yuan per tonne, widened downward by 10 yuan per tonne
China’s manufacturing PMI for March was 52.0, up by 16.3 points from February’s 35.7, the National Bureau of Statistics said during the day.

Last month’s steel PMI was...

Published

Jessica Zong

March 31, 2020

09:45 GMT

Shanghai