CHINA REBAR: Restocking demand pushes up domestic prices

China’s domestic rebar prices increased further on Wednesday July 8 on restocking demand and rising futures.

Eastern China (Shanghai): 3,560-3,590 yuan ($507-511) per tonne, up by 30 yuan per tonne
Rising futures encouraged some buyers to start replenishing their stock in the past couple of days, sources said.
A trader in eastern China said he sold 30% more rebar on Wednesday than each day last week on average.

But market participants do not expect the restocking demand to last due to the effect of the...


Jessica Zong

July 08, 2020

10:23 GMT