CHINA REBAR: Futures gains bring an end to price falls

China’s domestic rebar prices halted their recent decline on Wednesday February 24, supported by strong futures and a rise in demand.

Domestic
Eastern China (Shanghai): 4,600-4,620 yuan ($712-715) per tonne, unchanged
The May rebar contract increased on market participants’ bullish outlook for demand when the contract is delivered.
Spot market demand also increased with more end users back to work.

But sellers did not raise their prices because they wanted...

Published

Jessica Zong

February 24, 2021

10:27 GMT

Shanghai

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