CHINA REBAR: Pre-holiday lull weighs on domestic prices

China’s domestic rebar prices edged up slightly on Friday January 22, but they remain lower than a week earlier on softening demand ahead of the Chinese New Year holiday.

Domestic
Eastern China (Shanghai): 4,260-4,290 yuan ($659-663) per tonne, widening upward by 10 yuan per tonne
Northern China (Beijing) weekly assessment: 4,060-4,110 yuan per tonne, up by 40-50 yuan per tonne
Prices in eastern China remain 20 yuan per tonne lower than last Friday with more construction sites suspending their building activity this week.
A trader in the region said his customers will further cut procurement rates next week before starting their holiday from the beginning of next month.

China is observing a weeklong...

Published

Jessica Zong

January 22, 2021

10:16 GMT

Shanghai