CHINA REBAR: Domestic demand prospects stoke bullish sentiment in futures market

China’s domestic rebar prices rose on Friday October 30 amid futures strength following the release of details surrounding the country’s 14th Five-Year Plan.

Domestic
Eastern China (Shanghai): 3,750-3,780 yuan ($558-563) per tonne, up by 20 yuan per tonne
Northern China (Beijing) weekly assessment: 3,640-3,680 yuan per tonne, narrowed upward by 10 yuan per tonne
China’s latest five-year plan mentioned expanding domestic demand as part of efforts to improve the economy amid the global Covid-19 pandemic.

The National Development & Reform...

Published

Jessica Zong

October 30, 2020

10:10 GMT

Shanghai