CHINA REBAR: Domestic market loses upward momentum on weaker demand

China’s domestic prices for rebar stopped rising on Tuesday August 4 amid lower trading activity, but participants’ outlook for the market remains optimistic.

Domestic
Eastern China (Shanghai): 3,640-3,670 yuan ($521-526) per tonne, unchanged
Rebar buyers cut their procurement rates throughout the day due to a relatively lackluster performance in the futures market compared with Monday, preventing sellers from raising their prices.

Market participants, however, expect prices to rise again soon because end-user demand...

Published

Jessica Zong

August 04, 2020

10:50 GMT

Shanghai