CHINA REBAR: Domestic prices breach $700/t on recovering demand

China’s domestic rebar prices moved up sharply on Monday February 22 amid a return of end users in the market, which raised demand and made market participants bullish.

Domestic
Eastern China (Shanghai): 4,600-4,640 yuan ($709-715) per tonne, up by 130-140 per tonne
More end users returned to the market from their Chinese New Year break during the day, which strengthened demand for rebar significantly.
Steel futures and billet prices rose on news that Tangshan would tighten steelmaking restrictions from Tuesday onward to improve air quality.

Published

Jessica Zong

February 22, 2021

09:30 GMT

Shanghai