CHINA REBAR: Domestic prices hit new high, sentiment less bullish
China’s domestic rebar prices increased again on Thursday April 22, hitting a new 12-year high following futures gains - although market participants remain unconvinced there will be any further price rises.
Eastern China (Shanghai):
5,070-5,100 yuan ($776-780) per tonne, up by 30 yuan per tonne
Prices broke the recent record of 5,050-5,090 yuan per tonne achieved on April 6
Rebar futures picked up after the...