CHINA REBAR: Domestic prices lose upward momentum on lower buying activity

China’s domestic rebar prices stopped rising on Tuesday September 15 after falling futures and rain weakened demand.

Domestic
Eastern China (Shanghai): 3,700-3,720 yuan ($545-548) per tonne, unchanged
Continual rain in eastern China slowed down the consumption rates of rebar at construction sites as well as the transportation of the long steel product.
A weakening of the futures also reduced buying interest in the spot market.

Participants are expecting the high inventory levels in the spot...

Published

Jessica Zong

September 15, 2020

09:50 GMT

Shanghai