CHINA REBAR: 3-year high domestic prices send buyers to sidelines

China's domestic rebar prices continued to surge on Tuesday December 22 to reach their highest in three years, though the gains have resulted in sparse trading in the market.

Domestic
Eastern China (Shanghai): 4,680-4,700 yuan ($715-718) per tonne, up by 100 yuan per tonne
Sellers raised prices in response to early gains made in the futures market.

The most-traded May rebar contract on the Shanghai Futures Exchange hit a high of 4,603 yuan per tonne within the first few minutes of trading...

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