China’s RRR cut sparks bullish sentiment in rebar market

China’s domestic rebar prices rose further on Tuesday December 7 after the People’s Bank of China announced a reduction of the reserve requirement ratio (RRR) of commercial banks by 0.5 percentage points from December 15.

Domestic
Eastern China (Shanghai): 4,800-4,830 yuan ($754-758) per tonne, up by 30 yuan per tonne

The central bank, in its announcement on late on Monday, said the move to reduce the RRR – the amount of cash that banks must have in their...

Published

Jessica Zong

December 07, 2021

09:10 GMT

Shanghai