China's rebar prices experienced big gains on Monday April 2, especially in the domestic segment, following a surge in the billet market over the weekend.
Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($589-595) per tonne, up 140-150 yuan per tonneNorthern China (Beijing): 3,780-3,800 yuan per tonne, up 60-70 yuan per tonneBillet prices rose sharply during the weekend due to strong demand, which improved sentiment in the spot rebar market significantly, participants said.A number of end-users raised their procurement rates out of concern over further price increases. Export Metal Bulletin fob China Rebar...