CHINA REBAR: Domestic demand drops after prices surge to 4-month highs

Trading activity in China’s domestic rebar market dropped on Wednesday May 20 after prices rose to their highest since the Chinese New Year a day earlier, but they held up during the day despite the weaker demand.

Domestic
Eastern China (Shanghai): 3,560-3,590 yuan ($501-505) per tonne, unchanged
Buyers cut their procurement rates during the day amid the high prices after seeing rebar futures fluctuating in a downward direction.

But sellers kept prices steady on expectations that end user’s buying appetite would remain strong at least until the end of May since the month is considered a peak period for...

Published

Jessica Zong

May 20, 2020

11:03 GMT

Shanghai