China rebar sentiment remains cautious after LPR decrease

China's rebar market participants were cautiously bullish about the news that the People’s Bank of China (PBOC) cut to the Loan Prime Rate (LPR) on Thursday January 20, but sellers raised spot rebar prices slightly to test buying interest.

Domestic
Eastern China (Shanghai): 4,690-4,730 yuan ($739-745) per tonne, up by 10 yuan per tonne

PBOC reduced the five-year LPR by five points to 4.6% from the previous...

Published

Jessica Zong

January 20, 2022

09:01 GMT

Shanghai