Eastern China (Shanghai):
3,390-3,420 yuan ($480-484) per tonne, unchanged
Northern China (Beijing):
3,330-3,370 yuan per tonne, unchanged
China’s central bank last Friday said it would lower small banks’ reserve requirement ratio - the amount of cash reserves they must hold - by 50 basis points each on April 15 and May 15, a move that is estimated to release 400 billion yuan of liquidity to shore up the country’s economy.
Rebar futures rose to a high of 3,244 yuan per...