CHINA REBAR: Domestic prices rise amid steelmaking inspections

China’s domestic rebar prices moved up on Tuesday July 7 on gains in the futures and billet markets fueled by concerns over how strict local authorities are in implementing production restrictions in the country’s steelmaking hub of Tangshan.

Eastern China (Shanghai): 3,530-3,560 yuan ($503-507) per tonne, up by 10-30 yuan per tonne
Market sources told Fastmarkets that local authorities in Tangshan carried out inspections on steel mills in the city to ensure that they adhered to prescribed limits.

Billet prices rose in response to the stepped up enforcement and these, along with...


Jessica Zong

July 07, 2020

09:57 GMT