CHINA REBAR: Strong yuan pushes up export prices

A continual strengthening of the yuan against the dollar pushed up export prices for Chinese rebar on Wednesday September 16, though domestic prices for the product in China remained flat due to a less active market.

Eastern China (Shanghai): 3,700-3,720 yuan ($547-550) per tonne, unchanged
Rain in eastern China, coupled with a weakening of the futures market, continued to hinder trading in the rebar market during the day.
But sellers maintained their prices due to the high cost they incurred when they stocked up previously.

A trader...


Jessica Zong

September 16, 2020

09:35 GMT