CHINA REBAR: Domestic prices keep rising on growing demand

China’s domestic rebar prices continued to trend upward on Tuesday June 2 amid stronger demand stimulated by rising futures.

Domestic
Eastern China (Shanghai): 3,590-3,620 yuan ($503-508) per tonne, up by 20 yuan per tonne
Buyers raised their procurement rates amid a strengthening futures market, which pushed up spot prices.
But some markets participants have expressed concerns over the possibility of high production rates weighing on prices.
China produced 21.12 million tonnes of rebar in April, up by 1.1% from a year earlier, according to country’s National Bureau of Statistics (NBS).

Published

Jessica Zong

June 02, 2020

10:30 GMT

Shanghai