CHINA REBAR: Adverse weather saps market's upward momentum

China’s domestic rebar prices stopped rising on Tuesday May 11 due to rain sapping demand a day after the market surged, due participants still have a bullish outlook.

Domestic
Eastern China (Shanghai): 6,000-6,030 yuan ($934-939) per tonne, unchanged
Rain affect parts of eastern China and disrupted construction activity and stalled the transportation of rebar, which resulted in a drop in trading compared with a day earlier.

The weaker demand during the day kept prices from increasing further, having ventured into the uncharted territory of...

Published

Jessica Zong

May 11, 2021

09:10 GMT

Shanghai