CHINA REBAR: Prices rise, but supply pressures remain

China’s domestic rebar prices increased on Thursday July 30 on stronger demand, though market participants tempered their expectations amid high production rates and inventory levels.

Eastern China (Shanghai): 3,590-3,620 yuan ($513-517) per tonne, up by 20 yuan per tonne
Favorable weather and rising futures stimulated demand for rebar, which provided upward momentum for prices, market sources said.
But supply pressures remain in the market.

Rebar output totaled 3.88 million tonnes in the week to Thursday, up by 48,000 tonnes from the preceding week. Spot markets in China also had 8.6 million...


Jessica Zong

July 30, 2020

10:30 GMT