CHINA REBAR: Market winding down on early holiday plans

China’s domestic rebar prices were flat on Friday January 29 amid inactivity, with the situation set to be compounded next week when many market participants plan to make an early start to their holiday for the Chinese New Year.

Domestic
Eastern China (Shanghai): 4,280-4,310 yuan ($663-667) per tonne, unchanged
Northern China (Beijing) weekly assessment: 4,110-4,160 yuan per tonne, up 50 yuan per tonne
 
Market participants told Fastmarkets that the traded volumes this week were just a third that of last week.
A trader in Shanghai said he would start his holiday once he completes the delivery of two cargoes.
China’s public holiday for the Chinese New Year is over February 11-17.

Week on week,...

Published

Jessica Zong

January 29, 2021

09:42 GMT

Shanghai