CHINA REBAR: Nosediving futures send spot prices lower

China’s domestic rebar prices decreased on Wednesday August 18 amid sharp losses in the futures market and subdued restocking demand.

Eastern China (Shanghai): 5,140-5,170 yuan ($793-798) per tonne, down by 50 yuan per tonne
Rebar futures plunged during the day on market participants’ pessimistic outlook for demand in the next few months.

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Jessica Zong

August 18, 2021

10:49 GMT