CHINA REBAR: Production reduction concerns emerges, pushing up prices

Domestic rebar prices in eastern China continued rising on Friday June 11 due to market participants’ concerns over production restrictions creating a wider range and ending the week up by 40 yuan ($6) per tonne week on week.

Domestic
Eastern China (Shanghai): 5,070-5,100 yuan ($793-798) per tonne, up by 70 yuan per tonne
Northern China (Beijing) weekly assessment: 5,070-5,120 yuan per tonne, down by 80-90 yuan per tonne
Market participants heard that more regions will implement production restrictions at steel mills to improve air quality, as well as Tangshan.

A trader in Shanghai heard...

Published

Jessica Zong

June 11, 2021

09:48 GMT

Shanghai