Chinese rebar prices bounced back in a big way on Monday December 3 after a 90-day truce was agreed in the tit-for-tat trade war between China and the United States.
Domestic Eastern China (Shanghai): 3,960-4,000 yuan ($569-575) per tonne, up 160-170 yuan per tonneNorthern China (Beijing): 3,720-3,750 yuan per tonne, up 200 yuan per tonneAn agreement between the leaders of the world's two largest economies over the weekend - the US said it would put on hold additional tariffs on Chinese imports, and China in return agreed to purchase more American products - improved sentiment, resulting in gains in the futures market. This in turn pushed up spot rebar prices.A price increase for billet...