CHINA REBAR: Domestic prices stop rising on tumbling futures

China’s domestic rebar prices lost their upward momentum on Tuesday January 19 amid a weakening of the futures market.

Domestic
Eastern China (Shanghai): 4,300-4,330 yuan ($662-667) per tonne, unchanged
Rebar futures plunged on expectations of falling demand from the construction sector in the next month due to the Chinese New Year in the second week of February, sources said.

As such, sellers in the spot market could not preserve the uptrend for rebar prices...

Published

Jessica Zong

January 19, 2021

09:55 GMT

Shanghai